EX-12.2 5 dex122.htm RATIO OF EARNINGS AND PREFERRED STOCK DIVIDENDS Ratio of Earnings and Preferred Stock Dividends

EXHIBIT 12.2 STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

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  
                                     
Combined Fixed Charges and Preferred
    Stock Dividends		                                      
                                     
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  
Preferred Stock Dividends     —     —     —     —     2.9     19.5  
Total Combined Fixed Charges and
    Preferred Stock Dividends		   $ 133.3   $ 189.0   $ 197.1   $ 155.2   $ 141.2   $ 120.6  
Ratio of Earnings to Combined                                      
   Fixed Charges and Preferred Stock
    Dividends		     4.1     5.4     5.4     (0.1 )   7.5     8.4  

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