EX-12.1 5 dex121.htm COMPUTATION OF RATION OF EARNINGS Computation of Ration of Earnings

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

     Year-ended December 31,     Three Months Ended  
     2004     2005     2006     2007     2008     Mar 29
2008
    Apr 4
2009
 
           (In thousands, except ratios)                    

Earnings

              

Earnings/(loss) before income taxes and noncontrolling interests

   $ 1,806,731     $ 2,137,733     $ 2,911,556     $ 2,546,816     $ 3,104,391     $ 714,618     $ (281,746 )

Plus/(Less): losses/(earnings) from equity investments

     (4,070 )     (476 )     17,690       24,618       36,920       11,257       37,997  

Plus: fixed charges (includes interest expense and amortization of bond issuance costs and settled swaps and estimated interest on rent expense)

     30,645       36,571       40,351       55,402       146,360       30,372       46,024  

Plus: amortization of capitalized interest

     108       216       216       216       300       54       138  

Plus: distributed income of equity investees

     —         —         3,172       8,072       20,117       4,003       4,361  

Less: interest capitalized

     (1,310 )     —         —         (3,700 )     (10,020 )     (370 )     (5,840 )

Plus/(Less): losses/(earnings) in noncontrolling interests in subsidiaries that have not incurred fixed charges

     (80,840 )     (110,650 )     (219,121 )     (293,604 )     (314,277 )     (91,780 )     33  
                                                        
   $ 1,751,264     $ 2,063,394     $ 2,753,864     $ 2,337,820     $ 2,983,791     $ 668,154     $ (199,033 )
                                                        

Fixed charges

              

Interest expense and amortization of bond issuance and settled swaps

     30,645       36,571       40,351       55,052       144,845       30,154       45,523  

Estimated interest on rent expense

     —         —         —         350       1,515       218       501  
                                                        

Total Fixed Charges

     30,645       36,571       40,351       55,402       146,360       30,372       46,024  
                                                        

Ratio of earnings to fixed charges

     57.15       56.42       68.25       42.20       20.39       22.00       (4.32 )