EX-12 5 d92004ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In thousands, except ratio data)
Nine Months Ended September 30, Year Ended ------------------------ -------------------------------------------------------------- 2001 2000 2000 1999 1998 1997 1996 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Income (loss) before income taxes, equity in earnings of non- consolidated affiliates and extraordinary item (830,752) 831,394 688,384 220,213 117,922 104,077 71,240 Dividends and other received from nonconsolidated affiliates 4,332 8,818 4,934 7,079 9,168 4,624 10,430 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Total (826,420) 840,212 693,318 227,292 127,090 108,701 81,670 Fixed Charges Interest expense 441,635 244,875 413,425 192,321 135,766 75,076 30,080 Amortization of loan fees 10,995 234 12,401 1,970 2,220 1,451 506 Interest portion of rentals 132,565 80,416 150,317 24,511 16,044 6,120 424 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Total fixed charges 585,195 325,525 576,143 218,802 154,030 82,647 31,010 Preferred stock dividends Tax effect of preferred dividends -- -- -- -- -- -- -- After tax preferred dividends -- -- -- -- -- -- -- ---------- ---------- ---------- ---------- ---------- ---------- ---------- Total fixed charges and preferred dividends 585,195 325,525 576,143 218,802 154,030 82,647 31,010 Total earnings available for payment of fixed charges (241,225) 1,165,737 1,269,461 446,094 281,120 191,348 112,680 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Ratio of earnings to fixed Charges (.41) 3.58 2.20 2.04 1.83 2.32 3.63 ---------- ---------- ---------- ---------- ---------- ---------- ---------- Rental fees and charges 378,757 321,665 429,476 306,393 200,550 76,500 5,299 Interest rate 35% 25% 35% 8% 8% 8% 8%