EX-12 3 ex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ex12.htm
 



 
EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
(in millions except ratio of earnings to fixed charges)

 
   
Six Months Ended
 
   
June 30,
 
   
2009
 
Earnings:
     
  Income from continuing operations before income taxes
  $ 332.3  
  Portion of rents representative of interest expense
    4.7  
  Interest on indebtedness, including amortization of deferred loan costs
    0.1  
  Amortization of capitalized interest
    -  
  Earnings, as adjusted
  $ 337.1  
         
Fixed Charges:
       
  Portion of rents representative of interest expense
  $ 4.7  
  Interest on indebtedness, including amortization of deferred loan costs
    0.1  
  Capitalized interest
    28.5  
  Total fixed charges
  $ 33.3  
         
Ratio of earnings to fixed charges
    10.12 x