EX-12 2 c03155exv12.htm EXHIBIT 12 Exhibit 12
EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
(in millions except ratio of earnings to fixed charges)
                 
    Six Months Ended  
    June 30,  
    2010     2009  
Earnings:
                
Income from continuing operations before income taxes
   $ 156.2     $ 338.1  
Portion of rents representative of interest expense
     1.9       3.3  
Interest on indebtedness, including amortization of deferred loan costs
     —       (0.1 )
Amortization of capitalized interest
     —       —  
 
            
Earnings, as adjusted
   $ 158.1     $ 341.3  
 
            
 
                
Fixed Charges:
                
Portion of rents representative of interest expense
   $ 1.9     $ 3.3  
Interest on indebtedness, including amortization of deferred loan costs
     —       (0.1 )
Capitalized interest
     45.9       28.5  
 
            
Total fixed charges
   $ 47.8     $ 31.7  
 
            
 
                
Ratio of earnings to fixed charges
     3.31x       10.77x