EX-12 2 c14851exv12.htm EXHIBIT 12 Exhibit 12
EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
(in millions except ratio of earnings to fixed charges)
                 
    Three Months Ended  
    March 31,  
    2011     2010  
Earnings:
                
Income from continuing operations before income taxes
   $ 33.9     $ 95.4  
Portion of rents representative of interest expense
     1.4       1.0  
Interest on indebtedness, including amortization of deferred loan costs
     4.7       —  
Amortization of capitalized interest
     0.6       —  
 
            
Earnings, as adjusted
   $ 40.6     $ 96.4  
 
            
 
                
Fixed Charges:
                
Portion of rents representative of interest expense
   $ 1.4     $ 1.0  
Interest on indebtedness, including amortization of deferred loan costs
     4.7       —  
Capitalized interest
     31.2       23.0  
 
            
Total fixed charges
   $ 37.3     $ 24.0  
 
            
 
                
Ratio of earnings to fixed charges
     1.09 x     4.02 x