EX-12 2 l27384aexv12.htm EX-12 EX-12
 

         
EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands, except ratio amounts)
                                 
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2007     2006     2007     2006  
Income from continuing operations before income taxes
   $ 89,717     $ 90,022     $ 157,703     $ 171,282  
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
     —       128       —       816  
Amortization of capitalized interest
     266       307       578       608  
Interest expense
     10,080       12,718       19,724       25,783  
Interest portion of rental expense
     1,536       1,083       3,071       2,097  
 
                        
Earnings
   $ 101,599     $ 104,258     $ 181,076     $ 200,586  
 
                        
Interest
   $ 10,823     $ 13,658     $ 22,433     $ 26,924  
Interest portion of rental expense
     1,536       1,083       3,071       2,097  
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates
     —       —       —       —  
 
                        
Fixed Charges
   $ 12,359     $ 14,741     $ 25,504     $ 29,021  
 
                        
Ratio of Earnings to Fixed Charges
     8.22       7.07       7.10       6.91