EX-12 5 g25604exv12.htm EX-12 exv12
         
Exhibit 12
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)
                                         
    Year Ended December 31,  
    2006     2007     2008     2009     2010  
Earnings
                                       
Income from continuing operations before provision for income taxes and extraordinary item
  $ 287,847     $ 107,291     $ 359,000     $ 446,130     $ 508,434  
Income from equity investees (1)
          (25,132 )     (42,063 )     (36,521 )     (45,432 )
Distributed income from equity investees
          19,902       32,897       33,705       33,829  
Interest and amortization of deferred finance costs
    94,411       362,065       652,468       648,964       651,926  
Amortization of capitalized interest
    567       881       1,469       2,024       2,432  
Implicit rental interest expense
    22,986       38,424       57,792       61,783       64,380  
 
                             
 
                                       
Total Earnings
  $ 405,811     $ 503,431     $ 1,061,563     $ 1,156,085     $ 1,215,569  
 
                                       
Fixed Charges
                                       
Interest and amortization of deferred finance costs
  $ 94,411     $ 362,065     $ 652,468     $ 648,964     $ 651,926  
Capitalized interest
    2,955       19,009       22,147       16,695       11,902  
Implicit rental interest expense
    22,986       38,424       57,792       61,783       64,380  
 
                             
 
                                       
Total fixed charges
  $ 120,352     $ 419,498     $ 732,407     $ 727,442     $ 728,208  
 
                                       
Ratio of earnings to fixed charges
    3.37 x     1.20 x     1.45 x     1.59 x     1.67 x
 
(1)   The Company recognized an immaterial amount of income from equity investees prior to 2007.