2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Income from continuing operations before income taxes | $ | 1,251,319 | (a) | $ | 1,015,579 | (b) | $ | 962,845 | (c) | $ | 808,864 | (d) | $ | 671,131 | (e) | |||||
Add (Deduct): | ||||||||||||||||||||
Interest on indebtedness | 91,514 | 98,509 | 94,780 | 97,704 | 91,336 | |||||||||||||||
Portion of rents representative of the interest factor (f) | 7,821 | 8,139 | 7,734 | 7,472 | 8,294 | |||||||||||||||
Amortization of debt expense | 1,115 | 1,245 | 1,149 | 1,139 | 970 | |||||||||||||||
Amortization of capitalized interest | 2,272 | 1,660 | 1,835 | 1,478 | 1,354 | |||||||||||||||
Adjustment to exclude minority interest and income or loss from equity investees | (2,324 | ) | (12,950 | ) | (5,817 | ) | (8,183 | ) | (5,614 | ) | ||||||||||
Earnings as adjusted | $ | 1,351,717 | $ | 1,112,182 | $ | 1,062,526 | $ | 908,474 | $ | 767,471 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest on indebtedness | $ | 91,514 | $ | 98,509 | $ | 94,780 | $ | 97,704 | $ | 91,336 | ||||||||||
Portion of rents representative of the interest factor (f) | 7,821 | 8,139 | 7,734 | 7,472 | 8,294 | |||||||||||||||
Amortization of debt expense | 1,115 | 1,245 | 1,149 | 1,139 | 970 | |||||||||||||||
Capitalized interest | 1,744 | 5,778 | 7,814 | 2,116 | 2,640 | |||||||||||||||
Total fixed charges | $ | 102,194 | $ | 113,671 | $ | 111,477 | $ | 108,431 | $ | 103,240 | ||||||||||
Ratio of earnings to fixed charges | 13.23 | 9.78 | 9.53 | 8.38 | 7.43 |
(a) | Includes total business realignment and impairment charges of $19.1 million before tax. |
(b) | Includes total business realignment and impairment charges of $83.8 million before tax. |
(c) | Includes total business realignment and impairment charges of $49.2 million before tax and a gain on sale of trademark licensing rights of $17.0 million before tax. |
(d) | Includes total business realignment and impairment charges of $98.6 million before tax. |
(e) | Includes total business realignment and impairment charges of $99.1 million before tax. |
(f) | Portion of rents representative of the interest factor consists of one-third of rental expense for operating leases. |