EX-12.1 8 k61656ex12-1.txt COMPUTATION OF RATIOS 1 EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN MILLIONS, EXCEPT RATIO OF EARNINGS TO FIXED CHARGES)
Year Ended December 31, --------------------------------------------------------- 2000 1999 1998 1997 1996 -------- -------- -------- -------- --------- Income before provision for national income taxes, minority interests in net income (loss) of subsidiaries, equity (income) loss of affiliates, and extraordinary items $ 484.2 $ 443.0 $ 214.8 $ 345.8 $ 253.4 Fixed charges 349.3 253.8 130.7 113.6 112.7 Distributed income of affiliates 2.0 1.8 2.3 3.9 3.0 -------- ------ ------ ------ ------ Earnings $ 835.5 $ 698.6 $ 347.8 $ 463.3 $ 369.1 ======== ====== ====== ====== ====== Interest expense $ 316.2 $ 235.1 $ 110.5 $ 101.0 $ 102.8 Portion of lease expense representative of interest 33.1 18.7 20.2 12.6 9.9 -------- ------ ------ ------ ------ Fixed Charges $ 349.3 $ 253.8 $ 130.7 $ 113.6 $ 112.7 ======== ====== ====== ====== ====== Ratio of Earnings to Fixed Charges 2.4 2.8 2.7 4.1 3.3 Fixed Charges in Excess of Earnings - - - - -