Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(amounts in millions of dollars)
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Year Ended December 31, |
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Nine
Months |
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2004 |
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2005 |
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2006 |
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2007 |
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2008 |
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2009 |
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Earnings: |
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Pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees |
|
$ |
388.4 |
|
$ |
395.6 |
|
$ |
420.4 |
|
$ |
431.9 |
|
$ |
411.7 |
|
$ |
278.7 |
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Add: Fixed charges (from below) |
|
42.3 |
|
44.5 |
|
38.5 |
|
66.3 |
|
81.0 |
|
49.6 |
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Add: Amortization of capitalized interest |
|
0.2 |
|
0.2 |
|
0.3 |
|
0.4 |
|
0.6 |
|
0.5 |
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Add: Distributed income of equity investee |
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— |
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— |
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— |
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— |
|
0.7 |
|
1.8 |
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Subtract: Capitalized interest expense |
|
— |
|
0.7 |
|
0.6 |
|
0.9 |
|
2.0 |
|
0.9 |
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$ |
430.9 |
|
$ |
439.6 |
|
$ |
458.6 |
|
$ |
497.7 |
|
$ |
492.0 |
|
$ |
329.7 |
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Fixed charges: |
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Interest expense (including amortization of debt issuance costs, debt discounts and premiums) |
|
$ |
34.9 |
|
$ |
35.6 |
|
$ |
31.9 |
|
$ |
58.5 |
|
$ |
71.3 |
|
$ |
42.9 |
|
|
Add: Capitalized interest expense |
|
— |
|
0.7 |
|
0.6 |
|
0.9 |
|
2.0 |
|
0.9 |
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Add: Portion of rentals representing interest |
|
7.4 |
|
8.2 |
|
6.0 |
|
6.9 |
|
7.7 |
|
5.8 |
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|
$ |
42.3 |
|
$ |
44.5 |
|
$ |
38.5 |
|
$ |
66.3 |
|
$ |
81.0 |
|
$ |
49.6 |
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Ratio of earnings to fixed charges |
|
10.2 |
|
9.9 |
|
11.9 |
|
7.5 |
|
6.1 |
|
6.7 |
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