EX-12.1 4 dex121.htm COMPUTAION OF RATIO OF EARNINGS TO FIXED CHARGES Computaion of Ratio of Earnings to Fixed Charges

 

EXHIBIT 12.1 STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Year Ended December 31

Nine Months
Ended
September 30
2002
2001 2000 1999 1998 1997






(in millions, except ratios)
                                     
Earnings                                      
                                     
Income (Loss) Before Income Tax,
   Extraordinary Loss, and Cumulative
   Effect of Accounting
    Principle Change
  $ 418.5   $ 825.1   $ 865.6   $ (165.5 ) $ 920.2   $ 916.7  
Fixed Charges     133.3     189.0     197.1     155.2     138.3     101.1  






Adjusted Earnings   $ 551.8   $ 1,014.1   $ 1,062.7   $ (10.3 ) $ 1,058.5   $ 1,017.8  






                                     
Fixed Charges                                      
                                     
Interest and Debt Expense   $ 120.0   $ 169.6   $ 181.8   $ 137.8   $ 119.9   $ 84.9  
Amortization of Deferred Debt Costs     2.4     7.1     2.4     2.4     3.3     0.7  
Portion of Rents Deemed Representative
    of Interest (a)
    10.9     12.3     12.9     15.0     15.1     15.5  






Total Fixed Charges   $ 133.3   $ 189.0   $ 197.1   $ 155.2   $ 138.3   $ 101.1  






                                     
Ratio of Earnings to Fixed Charges     4.1     5.4     5.4     (0.1 )   7.7     10.1  

    (a)   Generally deemed to be one-third of rental expense