EX-12 2 l16102aexv12.txt EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . Exhibit 12 Computation of Ratio of Earnings to Fixed Charges (all amounts except ratios are shown in millions)
Three months Three months ended ended March 31, 2005 March 31, 2004 -------------- -------------- Income from continuing operations before income taxes and minority interest losses $ 11.0 $ 67.6 Less: Equity in earnings of 50%-or-less owned companies (1.8) (2.1) Add: Fixed charges net of capitalized interest 10.0 9.2 Add: Amortization expense of previously capitalized interest 0.3 0.3 -------- ------- Total earnings $ 19.5 $ 75.0 Fixed charges 10.0 9.2 Ratio of earnings to fixed charges 2.0 8.2