EX-12.1 5 dex121.htm COMPUTATION OF RATIO OF EARNINGS Computation of Ratio of Earnings

Exhibit 12.1

 

RATIO OF EARNINGS TO FIXED CHARGES

 

   

1997


   

1998


 

1999


  

2000


 

2001


    

Nine Months

Ended

September 30,

2001


    

Nine Months

Ended

September 30,

2002


Income (loss) from continuing operations before income taxes

 

(161.3

)

 

81.5

 

105.5

  

207.6

 

332.3

    

258.1

    

341.7

   

 
 
  
 
    
    

Fixed Charges:

                                    

Interest on long-term and short-term debt including amortization of debt expense

 

71.7

 

 

48.7

 

41.6

  

38.5

 

27.0

    

22.8

    

13.7

Portion of rental expense as can be demonstrated to be representative of the interest factor

 

22.6

 

 

22.5

 

22.3

  

23.8

 

24.9

    

18.7

    

21.4

   

 
 
  
 
    
    

Total fixed charges

 

94.3

 

 

71.2

 

63.9

  

62.3

 

51.9

    

41.5

    

35.1

   

 
 
  
 
    
    

Earnings before income taxes and fixed charges

 

(67.0

)

 

152.7

 

169.4

  

269.9

 

384.2

    

299.6

    

376.8

   

 
 
  
 
    
    

Ratio of earnings to fixed charges

 

N/A

 

 

2.14

 

2.65

  

4.33

 

7.40

    

7.22

    

10.74