EX-12 3 l22712aexv12.htm EX-12 EX-12
 

EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands, except ratio amounts)
                                 
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2006     2005     2006     2005  
Income before income taxes
   $ 69,011     $ 48,698     $ 270,132     $ 241,261  
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
     536       1,339       1,352       3,673  
Amortization of capitalized interest
     331       322       981       966  
Interest expense
     11,704       12,842       37,487       39,376  
Interest portion of rental expense
     1,379       776       3,105       2,167  
 
                        
 
                                
Earnings
   $ 82,961     $ 63,977     $ 313,057     $ 287,443  
 
                        
 
                                
Interest
   $ 12,775     $ 13,064     $ 39,700     $ 39,839  
Interest portion of rental expense
     1,379       776       3,105       2,167  
 
                        
 
                                
Fixed Charges
   $ 14,154     $ 13,840     $ 42,805     $ 42,006  
 
                        
 
                                
Ratio of Earnings to Fixed Charges
     5.86       4.62       7.31       6.84