EX-12 3 exhibit12earningstofixedch.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12 Earnings to Fixed Charges (1)


Exhibit 12

Computation of Ratio of Earnings to Fixed Charges
(In Thousands)

 
 
Twelve Months Ended December 31,
 
 
2012

 
2011

 
2010

 
2009

 
2008

Earnings:
 
 
 
 
 
 
 
 
 
 
     Income from continuing operations before income taxes
 
$
497,274

 
$
787,953

 
$
467,913

 
$
788,345

 
$
725,595

     Fixed charges, as shown below
 
297,769

 
301,178

 
249,804

 
69,277

 
69,402

     Equity in income of investees
 
(27,048
)
 
(24,663
)
 
(21,428
)
 
(15,707
)
 
(11,140
)
     Noncontrolling Interest–Gas
 
397

 
—

 
(11,845
)
 
(27,425
)
 
(43,191
)
Adjusted Earnings (Loss)
 
$
768,392

 
$
1,064,468

 
$
684,444

 
$
814,490

 
$
740,666

 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
     Interest on indebtedness, expensed or capitalized
 
$
258,114

 
$
263,891

 
$
218,425

 
$
43,290

 
$
48,345

     Interest within rent expense
 
39,655

 
37,287

 
31,379

 
25,987

 
21,057

Total Fixed Charges
 
$
297,769

 
$
301,178

 
$
249,804

 
$
69,277

 
$
69,402

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
2.58

 
3.53

 
2.74

 
11.76

 
10.67