EX-12.1 3 e49464ex12_1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

EXHIBIT 12.1

 

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions, except ratios)

(Unaudited)

 

 

  For the Six
Months Ended
June 30, 2012
Earnings:  
Income before income taxes $   804.9
Add: Dividends from affiliates 6.3
          Fixed charges 151.6
   
   
Total earnings $   962.8
   
   
Fixed charges:  
Interest expense (a) $     82.5
Rent expense interest factor (b) 69.1
   
   
Total fixed charges $   151.6
   
   
Ratio of earnings to fixed charges 6.35x

 

 

 

(a)Interest expense includes interest on third-party indebtedness.
(b)The rent expense interest factor reflects an appropriate portion (one-third) of rent expense representative of interest.