EX-12 5 dex12.txt RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 Ratio of Earnings to Fixed Charges (In thousands except ratios)
Nine Months Ending 30-September-02 ------------------ Earnings available for fixed charges: Earnings (loss) before income taxes (1) $100,112 Less: Equity earnings of minority-owned companies (5,613) Add: Dividends received from investees under the equity method 84 Less: Minority interest income in majority-owned subsidiaries (501) Add: Fixed charges before capitalized interest 64,474 Add: Amortization of capitalized interest 5,483 -------- Total earnings available for fixed charges $164,039 ======== Fixed charges: Interest expense $ 49,683 Interest portion of rental expense 14,387 Amortization of discount related to indebtedness 404 -------- Total fixed charges before capitalized interest 64,474 Capitalized interest 8,983 -------- Total fixed charges $ 73,457 ======== Ratio of earnings to fixed charges 2.23 ========
-------- (1) Includes restructuring and impairment charges of $65 million ($40 million after-tax, or $0.35 per diluted share).