EX-12.1 10 k02496exv12w1.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES . . . Exhibit 12.1 COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (IN MILLIONS, EXCEPT RATIO OF EARNINGS TO FIXED CHARGES)
Year Ended December 31, -------------------------------------------------- 2005 2004 2003 2002 2001 ---------- ------- ------- ------- ------- Income (loss) before provision for income taxes, minority interests in consolidated subsidiaries, equity in net (income) loss of affiliates and cumulative effect of a change in accounting principle $ (1,128.6) $ 564.3 $ 534.4 $ 480.5 $ 97.4 Fixed charges 228.6 207.2 226.4 249.3 293.6 Distributed income of affiliates 5.3 3.2 8.7 5.9 4.2 ---------- ------- ------- ------- ------- Earnings $ (894.7) $ 774.7 $ 769.5 $ 735.7 $ 395.2 ========== ======= ======= ======= ======= Interest expense $ 183.2 $ 165.5 $ 186.6 $ 210.5 $ 254.7 Portion of lease expense representative of interest 45.4 41.7 39.8 38.8 38.9 ---------- ------- ------- ------- ------- Fixed charges $ 228.6 $ 207.2 $ 226.4 $ 249.3 $ 293.6 ========== ======= ======= ======= ======= Ratio of Earnings to Fixed Charges(1) - 3.7 3.4 3.0 1.3 Fixed Charges in Excess of Earnings $ 1,123.3 $ - $ - $ - $ -
(1) Earnings in 2005 were insufficient to cover fixed charges by $1,123.3 million. Accordingly, such ratio is not presented.