EX-12.1 13 k23879exv12w1.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, --------------------------------------------------------------------- 2007 2006 2005 2004 2003 ------------ ------------ ----------- ----------- ----------- Income (loss) before provision (benefit) for income taxes, minority interests in consolidated subsidiaries, equity in net (income) loss of afffiliates and cumulative effect of a change in accounting principle $ 323.2 $ (653.4) $ (1,128.6) $ 564.3 $ 534.4 Fixed charges 235.9 254.4 228.6 207.2 226.4 Distributed income of affiliates 7.3 1.6 5.3 3.2 8.7 ------------ ------------ ----------- ----------- ----------- Earnings $ 566.4 $ (397.4) $ (894.7) $ 774.7 $ 769.5 ============ ============ =========== =========== =========== Interest expense $ 199.2 $ 209.8 $ 183.2 $ 165.5 $ 186.6 Portion of lease expense representative of interest 36.7 44.6 45.4 41.7 39.8 ------------ ------------ ----------- ----------- ----------- Fixed charges $ 235.9 $ 254.4 $ 228.6 $ 207.2 $ 226.4 ============ ============ =========== =========== =========== Ratio of Earnings to Fixed Charges (1) 2.4 - - 3.7 3.4 Fixed Charges in Excess of Earnings $ - $ 651.8 $ 1,123.3 $ - $ -
(1) Earnings in 2006 and 2005 were not sufficient to cover fixed charges by $651.8 million and $1,123.3 million, respectively. Accordingly, such ratios are not presented.