EX-12.2 4 dex122.htm STATEMENT REGARDING COMPUTATION OF RATIO EARNINGS Prepared by R.R. Donnelley Financial -- Statement Regarding Computation of Ratio Earnings
 
EXHIBIT 12.2
 
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
 
    
Three Months Ended March 31 2002
  
Year Ended December 31
      
2001
  
2000
  
1999
    
1998
  
1997
    
(in millions, except ratios)
Earnings
                                       
Income (Loss) Before Income Taxes
   
$
103.1
  
$
825.1
  
$
865.6
  
$
(165.5
)
  
$
920.2
  
$
916.7
Fixed Charges
   
 
42.8
  
 
189.0
  
 
197.1
  
 
155.2
 
  
 
138.3
  
 
101.1
    
 
 
 
 
 
Adjusted Earnings
   
$
145.9
  
$
1,014.1
  
$
1,062.7
  
$
(10.3
)
  
$
1,058.5
  
$
1,017.8
    
 
 
 
 
 
Combined Fixed Charges and Preferred Stock Dividends
                                       
Interest and Debt Expense
   
$
38.4
  
$
169.6
  
$
181.8
  
$
137.8
 
  
$
119.9
  
$
84.9
Amortization of Deferred Debt Costs
   
 
0.8
  
 
7.1
  
 
2.4
  
 
2.4
 
  
 
3.3
  
 
0.7
Portion of Rents Deemed Representative of Interest (a)
   
 
3.6
  
 
12.3
  
 
12.9
  
 
15.0
 
  
 
15.1
  
 
15.5
Preferred Stock Dividends
   
 
—  
  
 
—  
  
 
—  
  
 
—  
 
  
 
2.9
  
 
19.5
    
 
 
 
 
 
Total Combined Fixed Charges and Preferred Stock Dividends
   
$
42.8
  
$
189.0
  
$
197.1
  
$
155.2
 
  
$
141.2
  
$
120.6
    
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
   
 
3.4
  
 
5.4
  
 
5.4
  
 
(0.1
)
  
 
7.5
  
 
8.4
 
(a)
 
Generally deemed to be one-third of rental expense.