EX-12.1 4 a84904orexv12w1.txt EXHIBIT 12.1 EXHIBIT 12.1 STATEMENT REGARDING CALCULATION OF RATIOS
YEAR ENDED DECEMBER 31, --------------------------------------------------- RATIO OF EARNINGS TO FIXED CHARGES: 2001 2000 1999 1998 1997 ------ ------ ------ ------ ------- ($ in millions) Earnings (loss) before income taxes .......................... $201.9 $181.9 $154.7 $ 46.6 $(251.9) Add: Interest Expense ........................................ 54.5 71.9 73.8 87.8 29.4 Portion of rents representative of interest factor ...... 24.0 24.4 23.4 17.9 10.6 ------ ------ ------ ------ ------- Earnings (loss) as adjusted ............................. 280.4 278.2 251.9 152.3 (211.9) Fixed charges: Interest Expense ........................................ 54.5 71.9 73.8 87.8 29.4 Portion of rents representative of interest factor ...... 24.0 24.4 23.4 17.9 10.6 ------ ------ ------ ------ ------- Total fixed charges ..................................... $ 78.5 $ 96.3 $ 97.2 $105.7 $ 40.0 RATIO OF EARNINGS TO FIXED CHARGES ........................... 3.6x 2.9x 2.6x 1.4x --
Earnings were inadequate to cover fixed charges for the year ended December 31, 1997. The coverage deficiency was $251.9 million.