EX-12 6 l29410aexv12.htm EX-12 EX-12
 

Exhibit 12
Computation of Ratio of Earnings to Fixed Charges
(all amounts except ratios are shown in millions)
                                 
    Year Ended December 31,
    2006     2005     2004     2003  
Income (loss) from continuing operations before income taxes and minority interest
  $ 60.5     $ (17.8 )   $ 62.2     $ (97.3 )
 
                               
Less: Equity in earnings of 50%-or-less owned companies
                       
 
                               
Add: Fixed charges net of capitalized interest
    40.1       42.5       41.0       36.8  
 
                               
Add: Amortization expense of previously capitalized interest
    1.2       1.2       1.2       1.2  
 
                       
 
                               
Total earnings
    101.8       25.9       104.4       (59.3 )
 
                               
Fixed charges
    40.1       42.5       41.0       36.8  
 
                               
Ratio of earnings to fixed charges(b)
    2.5       0.6       2.5       96.1 (a)
 
                               
(a) — Earnings were inadequate to cover fixed charges by $96.1 million and $162.8 million in 2003 and 2002, respectively.
 
                               
(b) — The ratio of earnings to fixed charges is not applicable for 2007 as a result of the redemption of the Notes on March 7, 2007.