EX-12.1 10 dex121.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re: Computation of Ratio of Earnings to Fixed Charges

EXHIBIT 12.1 STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

  

 

 

Year Ended December 31

 

 

 

 

 

        

2002

       

2001

        

2000

       

1999

       

1998

 

 

 

 

 

 

 

 

 

 

(in millions, except ratios)

 

 

 

     Restated        

 
       
         

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) Before Federal Income Tax,

 

 

 

 

 

 

 

 

 

 

 

Extraordinary Loss, and Cumulative Effect of Accounting Principle Change

 

$ 610.9

 

$    766.6

 

$     826.7

 

$ (165.5

)

$    920.2

 

Fixed Charges

 

180.3

 

189.0

 

197.1

 

155.2

 

138.3

 

 

 

 

 

 

 

 

Adjusted Earnings

 

$ 791.2

 

$ 955.6

 

$ 1,023.8

 

$   (10.3

)

$ 1,058.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and Debt Expense

 

$ 162.4

 

$    169.6

 

$     181.8

 

$   137.8

 

$    119.9

 

Amortization of Deferred Debt Costs

 

3.3

 

7.1

 

2.4

 

2.4

 

3.3

 

Portion of Rents Deemed
Representative of Interest

 

14.6

 

12.3

 

12.9

 

15.0

 

15.1

 

 

 

 

 

 

 

 

Total Fixed Charges

 

$ 180.3

 

$    189.0

 

$     197.1

 

$   155.2

 

$    138.3

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

4.4

 

5.1

 

5.2

 

(0.1

)

7.7