EX-12 5 ex12-1.htm STATEMENT RE: COMPUTATION OF RATIOS Statement of Computation of Ratios of Earnings to Fixed Charges

Exhibit 12.1

 

STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(dollars in millions, except ratio information)

 

     Fiscal Years Ended December 31,
   

 

 

     2002
    2003
    2004
    2005
    2006
   

Income from continuing

                              

operations before income taxes

    432.3    540.4    615.3    640.7    720.9     
    
  
  
  
  
  

Fixed Charges:

                              

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

    19.2    40.9    36.1    34.4    47.8     

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

    28.7    34.7    35.5    39.9    43.6     
    
  
  
  
  
  

Total fixed charges

    47.9    75.6    71.6    74.3    91.4     
    
  
  
  
  
  

Earnings before income taxes plus fixed charges

    480.2    616.6    686.9    715.0    812.3     
    
  
  
  
  
  

Ratio of earnings to fixed charges

    10.03    8.15    9.59    9.62    8.89