EX-12.1 5 dex121.htm RATIO OF EARNINGS TO FIXED CHARGES Prepared by R.R. Donnelley Financial -- Ratio of Earnings to Fixed Charges
 
EXHIBIT 12.1
 
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
    
Six Months
Ended
June 30
2002
   
Year Ended December 31
       
2001
   
2000
   
1999
     
1998
   
1997
    
(in millions, except ratios)
Earnings
                                            
Income (Loss) Before Income Tax, Extraordinary Loss, and Cumulative Effect of Accounting Principle Change
   
$
249.7
   
$
825.1
   
$
865.6
   
$
(165.5
)
   
$
920.2
   
$
916.7
Fixed Charges
   
 
85.9
   
 
189.0
   
 
197.1
   
 
155.2
 
   
 
138.3
   
 
101.1
    
  
  
  
  
  
Adjusted Earnings
   
$
335.6
   
$
1,014.1
   
$
1,062.7
   
$
(10.3
)
   
$
1,058.5
   
$
1,017.8
    
  
  
  
  
  
Fixed Charges
                                            
Interest and Debt Expense
   
$
77.1
   
$
169.6
   
$
181.8
   
$
137.8
 
   
$
119.9
   
$
84.9
Amortization of Deferred Debt Costs
   
 
1.6
   
 
7.1
   
 
2.4
   
 
2.4
 
   
 
3.3
   
 
0.7
Portion of Rents Deemed Representative of
Interest (a)
   
 
7.2
   
 
12.3
   
 
12.9
   
 
15.0
 
   
 
15.1
   
 
15.5
    
  
  
  
  
  
Total Fixed Charges
   
$
85.9
   
$
189.0
   
$
197.1
   
$
155.2
 
   
$
138.3
   
$
101.1
    
  
  
  
  
  
Ratio of Earnings to Fixed Charges
   
 
3.9
   
 
5.4
   
 
5.4
   
 
(0.1
)
   
 
7.7
   
 
10.1
(a)
 
Generally deemed to be one-third of rental expense.