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)
 
 

   
Nine Months Ended
 
   
September 30,
 
   
2009
 
Earnings:
     
  Income from continuing operations before income taxes
  $ 436.0  
  Portion of rents representative of interest expense
    4.6  
  Interest on indebtedness, including amortization of deferred loan costs
    0.1  
  Amortization of capitalized interest
    -  
  Earnings, as adjusted
  $ 440.7  
         
Fixed Charges:
       
  Portion of rents representative of interest expense
  $ 4.6  
  Interest on indebtedness, including amortization of deferred loan costs
    0.1  
  Capitalized interest
    51.7  
  Total fixed charges
  $ 56.4  
         
Ratio of earnings to fixed charges
    7.81 x