EX-12.1 18 0018.txt COMPUTATION OF RATIO EXHIBIT 12.1 STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31 2000 1999 1998 1997 1996 (in millions, except ratios) ----------------------------------------------------- Earnings Income (Loss) Before Income Taxes $ 865.6 $ (165.5) $ 920.2 $ 916.7 $ 567.8 Fixed Charges 197.1 155.2 138.3 101.1 71.9 -------- -------- -------- -------- -------- Adjusted Earnings $1,062.7 $ (10.3) $1,058.5 $1,017.8 $ 639.7 ======== ======== ======== ======== ======== Fixed Charges Interest and Debt Expense $ 181.8 $ 137.8 $ 119.9 $ 84.9 $ 58.5 Amortization of Deferred Debt Costs 2.4 2.4 3.3 0.7 -- Portion of Rents Deemed Representative of Interest (a) 12.9 15.0 15.1 15.5 13.4 -------- -------- -------- -------- -------- Total Fixed Charges $ 197.1 $ 155.2 $ 138.3 $ 101.1 $ 71.9 ======== ======== ======== ======== ======== Ratio of Earnings to Fixed Charges 5.4 (0.1) 7.7 10.1 8.9
(a) Generally deemed to be one-third of rental expense. 1