EX-12 11 l92100aex12.txt EXHIBIT 12 EXHIBIT 12 Computation of Ratio of Earnings to Fixed Charges (all amounts except ratios are shown in millions)
Nine Months Ended September 30, Year Ended December 31, ----------------- ------------------------------------------------------ 2001 2000 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- ---- ---- Pretax income $ 84.6 $ 74.1 $ 99.9 $ 80.3 $ 71.3 $ 58.0 $ 44.4 Add (deduct) earnings of less 0 0 0 0 0 0 0 than 50% owned affiliates (net of distributed earnings) included in pretax income Add losses of less than 50% 0 0 0 0 0 0 0 owned affiliates included in pretax income Add fixed charges net of 41.5 30.1 41.8 19.3 15.8 13.5 7.6 capitalized interest Add previously capitalized 0 0 0 0 0 0 0 interest amortized during period ------- ------- ------- ------ ------ ------ ------ "Earnings" $ 126.1 $ 104.2 $ 141.7 $ 99.6 $ 87.1 $ 71.5 $ 52.0 ======= ======= ======= ====== ====== ====== ====== Gross interest expense $ 45.5 $ 39.6 $ 52.8 $ 26.4 $ 17.4 $ 13.5 $ 7.6 including capitalized interest ("Fixed Charges") Ratio of earnings to 2.8 2.6 2.7 3.8 5.0 5.3 6.8 fixed charges