EX-12.1 6 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

EXHIBIT 12.1

RATIO OF EARNINGS TO FIXED CHARGES

Our ratio of earnings to fixed charges is as follows:

 

     2009     2008     2007    2006    2005

Earnings:

            

Income from continuing operations before provision for income taxes

   $ 522,454      $ 587,401      $ 745,558    $ 352,816    $ 214,410

Equity in undistributed earnings (losses) of affiliates

     (194     (1,831     377      3,382      253

Interest expense

     38        7,380        22,520      24,629      31,820

Portion of rents representative of the interest factor

     20,821        25,248        22,292      17,318      11,019
                                    
   $ 543,119      $ 618,198      $ 790,747    $ 398,145    $ 257,502
                                    

Fixed charges:

            

Interest expense, including amount capitalized

   $ 15,496      $ 15,279      $ 28,478    $ 27,689    $ 33,721

Portion of rents representative of the interest factor

     20,821        25,248        22,292      17,318      11,019
                                    
   $ 36,317      $ 40,527      $ 50,770    $ 45,007    $ 44,740
                                    

Ratio of earnings to fixed charges

     14.95x        15.25x        15.58x      8.85x      5.76x