EX-12 5 d93451ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS OF DOLLARS, EXCEPT RATIO DATA)
NINE MONTHS ENDED YEAR ENDED SEPTEMBER 30, ------------------------------------------------- -------------------- 2000 1999 1998 1997 1996 2001 2000 --------- ------- ------- ------- ------- -------- --------- Income (loss) before income taxes, equity in earnings of nonconsolidated affiliates and extraordinary item............................... 688,384 220,213 117,922 104,077 71,240 (830,752) 831,394 Dividends and other received from nonconsolidated affiliates....................................... 4,934 7,079 9,168 4,624 10,430 4,332 8,818 --------- ------- ------- ------- ------- -------- --------- Total.............................................. 693,318 227,292 127,090 108,701 81,670 (826,420) 840,212 Fixed Charges...................................... Interest expense................................... 413,425 192,321 135,766 75,076 30,080 441,635 244,875 Amortization of loan fees.......................... 12,401 1,970 2,220 1,451 506 10,995 234 Interest portion of rentals........................ 150,317 24,511 16,044 6,120 424 132,565 80,416 --------- ------- ------- ------- ------- -------- --------- Total fixed charges................................ 576,143 218,802 154,030 82,647 31,010 585,195 325,525 Preferred stock dividends.......................... Tax effect of preferred dividends.................. -- -- -- -- -- -- -- After tax preferred dividends...................... -- -- -- -- -- -- -- --------- ------- ------- ------- ------- -------- --------- Total fixed charges and preferred dividends........ 576,143 218,802 154,030 82,647 31,010 585,195 325,525 Total earnings available for payment of fixed charges.......................................... 1,269,461 446,094 281,120 191,348 112,680 (241,225) 1,165,737 --------- ------- ------- ------- ------- -------- --------- Ratio of earnings to fixed charges................. 2.20 2.04 1.83 2.32 3.63 (.41) 3.58 --------- ------- ------- ------- ------- -------- --------- Rental fees and charges............................ 429,476 306,393 200,550 76,500 5,299 378,757 321,665 Interest rate...................................... 35% 8% 8% 8% 8 35% 25%