EX-12.1 11 k82537exv12w1.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (IN MILLIONS, EXCEPT RATIO OF EARNINGS TO FIXED CHARGES)
Year Ended December 31, --------------------------------------------------------- 2003 2002 2001 2000 1999 ------- ------- ------- ------- ------- Income before provision for income taxes, minority interests in consolidated subsidiaries, equity in net income of affiliates and cumulative effect of a change in accounting principle $ 534.4 $ 480.5 $ 97.4 $ 484.2 $ 443.0 Fixed charges 226.4 249.3 293.6 349.3 253.8 Distributed income of affiliates 8.7 5.9 4.2 2.0 1.8 ------- ------- ------- ------- ------- Earnings $ 769.5 $ 735.7 $ 395.2 $ 835.5 $ 698.6 ======= ======= ======= ======= ======= Interest expense $ 186.6 $ 210.5 $ 254.7 $ 316.2 $ 235.1 Portion of lease expense representative of interest 39.8 38.8 38.9 33.1 18.7 ------- ------- ------- ------- ------- Fixed charges $ 226.4 $ 249.3 $ 293.6 $ 349.3 $ 253.8 ======= ======= ======= ======= ======= Ratio of Earnings to Fixed Charges 3.4 3.0 1.3 2.4 2.8 Fixed Charges in Excess of Earnings - - - - -