EX-99.1 2 a05-20500_2ex99d1.htm EXHIBIT 99

EXHIBIT 99.1

 

Computation of Ratio of Earnings to Fixed Charges

For Five Years Ended December 31, 2004 and Nine Months Ended September 30, 2005

 

 

 

Nine Months Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

Year Ended December 31,

 

 

 

2005

 

2004

 

2003

 

2002

 

2001

 

2000

 

 

 

(dollars in thousands)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income tax provision, discontinued operations and accounting change

 

$

618,159

 

$

1,110,844

 

$

873,126

 

$

862,149

 

$

36,135

 

$

1,459,734

 

Interest and debt expense

 

52,478

 

52,206

 

45,212

 

31,992

 

25,521

 

21,208

 

Interest portion of rental expense

 

21,235

 

30,076

 

27,480

 

31,318

 

38,590

 

35,697

 

Amortization of capitalized interest

 

377

 

502

 

502

 

386

 

155

 

24

 

Equity method investees and minority interests

 

(377

)

3,333

 

2,271

 

(265

)

(95

)

933

 

Total earnings

 

691,872

 

1,196,961

 

948,591

 

925,580

 

100,306

 

1,517,596

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and debt expense

 

52,478

 

52,206

 

45,212

 

31,992

 

25,521

 

21,208

 

Interest portion of rental expense

 

21,235

 

30,076

 

27,480

 

31,318

 

38,590

 

35,697

 

Capitalized interest

 

 

 

 

3,256

 

6,991

 

5,551

 

Total fixed charges

 

73,713

 

82,282

 

72,692

 

66,566

 

71,102

 

62,456

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

9.4

x

14.5

x

13.0

x

13.9

x

1.4

x

24.3

x

 

Computation of Ratio of Earnings to Fixed Charges

For Five Years Ended December 31, 2004 and Six Months Ended June 30, 2005 - Corrected

 

 

 

Six Months Ended
June 30,

 

Year Ended December 31,

 

 

 

2005

 

2004

 

2003

 

2002

 

2001

 

2000

 

 

 

(dollars in thousands)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income tax provision and accounting change

 

$

459,443

 

$

1,173,012

 

$

941,095

 

$

925,217

 

$

63,063

 

$

1,464,964

 

Interest and debt expense

 

35,974

 

52,206

 

45,212

 

31,992

 

25,521

 

21,208

 

Interest portion of rental expense

 

14,164

 

30,076

 

27,480

 

31,318

 

38,590

 

35,697

 

Amortization of capitalized interest

 

251

 

502

 

502

 

386

 

155

 

24

 

Equity method investees and minority interests

 

(15

)

3,333

 

2,271

 

(265

)

(95

)

933

 

Total earnings

 

509,817

 

1,259,129

 

1,016,560

 

988,648

 

127,234

 

1,522,826

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and debt expense

 

35,974

 

52,206

 

45,212

 

31,992

 

25,521

 

21,208

 

Interest portion of rental expense

 

14,164

 

30,076

 

27,480

 

31,318

 

38,590

 

35,697

 

Capitalized interest

 

 

 

 

3,256

 

6,991

 

5,551

 

Total fixed charges

 

50,138

 

82,282

 

72,692

 

66,566

 

71,102

 

62,456

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

10.2

x

15.3

x

14.0

x

14.9

x

1.8

x

24.4

x