EX-12 2 l26088aexv12.htm EX-12 EX-12
 

EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands, except ratio amounts)
                 
    Three Months Ended  
    March 31,  
    2007     2006  
Income from continuing operations before income taxes
   $ 67,986     $ 81,260  
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
     —       688  
Amortization of capitalized interest
     312       301  
Interest expense
     9,644       13,065  
Interest portion of rental expense
     1,535       1,014  
 
            
Earnings
   $ 79,477     $ 96,328  
 
            
 
                
Interest
   $ 11,609     $ 13,266  
Interest portion of rental expense
     1,535       1,014  
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates
     —       —  
 
            
Fixed Charges
   $ 13,144     $ 14,280  
 
            
 
                
Ratio of Earnings to Fixed Charges
     6.05       6.75  
 
            

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