EX-12 2 l31542aexv12.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,  
    2008     2007  
Income from continuing operations before income taxes
   $ 135,705     $ 67,986  
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
     —       —  
Amortization of capitalized interest
     432       312  
Interest expense
     10,998       9,644  
Interest portion of rental expense
     1,882       1,535  
 
            
Earnings
   $ 149,017     $ 79,477  
 
            
 
Interest
   $ 11,892     $ 11,609  
Interest portion of rental expense
     1,882       1,535  
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates
     —       —  
 
            
Fixed Charges
   $ 13,774     $ 13,144  
 
            
 
                
Ratio of Earnings to Fixed Charges
     10.82       6.05