Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(amounts in millions of dollars)
| Year Ended December 31, | Six Months Ended June 30, | |||||||||||||||||||||||
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | |||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||
| Pre-tax income from continuing operations before adjustment for noncontrolling interests in consolidated subsidiaries or income or loss from equity investees | $ | 366.9 | $ | 329.1 | $ | 364.6 | $ | 404.2 | $ | 428.5 | $ | 272.6 | ||||||||||||
| Add: Fixed charges (from below) | 80.1 | 64.3 | 63.1 | 62.7 | 63.0 | 39.0 | ||||||||||||||||||
| Add: Amortization of capitalized interest | 0.6 | 0.7 | 0.4 | 0.5 | 0.4 | 0.2 | ||||||||||||||||||
| Add: Distributed income of equity investee | 0.7 | 1.8 | 1.7 | - | - | - | ||||||||||||||||||
| Subtract: Capitalized interest expense | 2.0 | 0.5 | 0.4 | 0.5 | 0.4 | 0.1 | ||||||||||||||||||
| $ | 446.3 | $ | 395.4 | $ | 429.4 | $ | 466.9 | $ | 491.5 | $ | 311.7 | |||||||||||||
| Fixed charges: | ||||||||||||||||||||||||
| Interest expense (including amortization of debt issuance costs, debt discounts and premiums) | $ | 71.3 | $ | 57.0 | $ | 56.1 | $ | 55.1 | $ | 55.4 | $ | 35.3 | ||||||||||||
| Add: Capitalized interest expense | 2.0 | 0.5 | 0.4 | 0.5 | 0.4 | 0.1 | ||||||||||||||||||
| Add: Portion of rentals representing interest | 6.8 | 6.8 | 6.6 | 7.1 | 7.2 | 3.6 | ||||||||||||||||||
| Total Fixed Charges | $ | 80.1 | $ | 64.3 | $ | 63.1 | $ | 62.7 | $ | 63.0 | $ | 39.0 | ||||||||||||
| Ratio of earnings to fixed charges | 5.6 | 6.1 | 6.8 | 7.5 | 7.8 | 8.0 | ||||||||||||||||||