EX-12.1 3 l41425exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(Dollars in Millions, Except Ratios)
                                         
    For the Year Ended December 31,  
    2006     2007     2008     2009     2010  
Earnings:
                                       
Net earnings
  $ 338.4     $ 300.8     $ 240.2     $ 145.9     $ 340.0  
Provision for income taxes
    120.9       48.7       35.7       41.1       81.5  
Amortization of capitalized interest
    0.2       0.1       0.1       0.2       0.7  
Fixed charges excluding interest capitalized
    22.5       23.0       37.9       47.7       50.9  
     
Total
    482.0       372.6       313.9       234.9       473.1  
 
                                       
Fixed Charges:
                                       
Interest expense (gross of interest income)
    12.1       13.0       28.9       39.3       41.9  
Amortization of deferred financing expense
    0.3       0.3       0.7       1.4       2.0  
Interest capitalized
    1.8       0.2       1.4       3.4       2.1  
Interest component of rental expense
    10.1       9.7       8.3       7.0       7.0  
     
Total
    24.3       23.2       39.3       51.1       53.0  
 
                                       
Ratio of Earnings to Fixed Charges
    19.8       16.1       8.0       4.6       8.9