EX-12.1 3 dex121.txt STATEMENT REGARDING COMPUTATION OF RATIO EARNINGS EXHIBIT 12.1 STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Year Ended December 31 Ended September 30 2001 2000 1999 1998 1997 1996 (in millions, except ratios) --------------------------------------------------------------- Earnings Income (Loss) Before Income Taxes $629.6 $ 865.6 $(165.5) $ 920.2 $ 916.7 $567.8 Fixed Charges 138.9 197.1 155.2 138.3 101.1 71.9 ------ -------- ------- -------- -------- ------ Adjusted Earnings $768.5 $1,062.7 $ (10.3) $1,058.5 $1,017.8 $639.7 ====== ======== ======= ======== ======== ====== Fixed Charges Interest and Debt Expense $128.1 $ 181.8 $ 137.8 $ 119.9 $ 84.9 $ 58.5 Amortization of Deferred Debt Costs 1.9 2.4 2.4 3.3 0.7 - Portion of Rents Deemed Representative of Interest (a) 8.9 12.9 15.0 15.1 15.5 13.4 ------ -------- ------- -------- -------- ------ Total Fixed Charges $138.9 $ 197.1 $ 155.2 $ 138.3 $ 101.1 $ 71.9 ====== ======== ======= ======== ======== ====== Ratio of Earnings to Fixed Charges 5.5 5.4 (0.1) 7.7 10.1 8.9
(a) Generally deemed to be one-third of rental expense.