EX-12 6 dex12.htm COMPUTATION OF RATIO OF EARNINGS (LOSS) TO FIXED CHARGES Computation of Ratio of Earnings (Loss) to Fixed Charges

Exhibit 12

 

Computation of Ratio of Earnings (Loss) to Fixed Charges

 

(In Millions Except Ratios)

 

YEAR ENDED DECEMBER 31


   2004

   2003

   2002

   2001

    2000

 

EARNINGS (LOSS)

                                     

Income (Loss) from Continuing Operations before Income Taxes

   $ 892.9    $ 380.1    $ 299.5    $ (1,608.6 )   $ (82.0 )

Total Fixed Charges

     108.2      127.5      132.8      144.3       151.5  

Less Interest Capitalized

     —        —        —        (8.3 )     (6.1 )
    

  

  

  


 


Total Earnings (Loss)

   $ 1,001.1    $ 507.6    $ 432.3    $ (1,472.6 )   $ 63.4  
    

  

  

  


 


FIXED CHARGES

                                     

Interest

   $ 108.2    $ 127.1    $ 131.5    $ 134.8     $ 144.4  

Interest Capitalized

     —        —        —        8.3       6.1  

Amortization of Deferred Debt Expense

     —        0.4      1.3      1.2       1.0  
    

  

  

  


 


Total Fixed Charges

   $ 108.2    $ 127.5    $ 132.8    $ 144.3     $ 151.5  
    

  

  

  


 


RATIO OF EARNINGS (LOSS) TO FIXED CHARGES

     9.25      3.98      3.26      —         0.42  

Dollar Amount of Deficiency in Earnings (Loss) to Fixed Charges

     N/A      N/A      N/A    $ 1,616.9     $ 88.1