EX-12 2 l32729aexv12.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,  
    2008     2007     2008     2007  
Income from continuing operations before income taxes
   $ 133,527     $ 89,717     $ 269,232     $ 157,703  
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
     —       —       —       —  
Amortization of capitalized interest
     459       266       891       578  
Interest expense
     11,643       10,080       22,641       19,724  
Interest portion of rental expense
     1,770       1,536       3,652       3,071  
 
                        
Earnings
   $ 147,399     $ 101,599     $ 296,416     $ 181,076  
 
                        
 
                                
Interest
   $ 12,538     $ 10,823     $ 24,431     $ 22,433  
Interest portion of rental expense
     1,770       1,536       3,652       3,071  
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates
     —       —       —       —  
 
                        
Fixed Charges
   $ 14,308     $ 12,359     $ 28,083     $ 25,504  
 
                        
 
                                
Ratio of Earnings to Fixed Charges
     10.30       8.22       10.55       7.10