EX-12.01 8 g69618ex12-01.txt COMPUTATION OF RATIO OF EARNINGS 1 EXHIBIT 12.01 Ratio of Earnings to Fixed charges FOR THE YEARS ENDED DECEMBER 31, (AMOUNTS IN THOUSANDS)
2000 1999 1998 1997 1996 --------- --------- --------- --------- --------- EARNINGS: Earnings before income taxes $ 168,821 $ 194,313 $ 174,142 $ 151,212 $ 118,953 Earnings of less than 50%-owned associated companies (419) (487) (684) (805) (736) Interest expense 41,895 39,411 23,759 16,899 10,121 Portion of rents representative of an interest factor 2,968 2,807 2,424 2,192 1,188 --------- --------- --------- --------- --------- ADJUSTED EARNINGS AND FIXED CHARGES $ 213,265 $ 236,044 $ 199,641 $ 169,498 $ 129,526 ========= ========= ========= ========= ========= FIXED CHARGES: Interest expense $ 41,895 $ 39,411 $ 23,759 $ 16,899 $ 10,121 Capitalized interest 2,107 834 359 571 342 Portion of rents representative of an interest factor 2,968 2,807 2,424 2,192 1,188 --------- --------- --------- --------- --------- TOTAL FIXED CHARGES $ 46,970 $ 43,052 $ 26,542 $ 19,662 $ 11,651 ========= ========= ========= ========= ========= RATIO OF EARNINGS TO FIXED CHARGES 4.54 5.48 7.52 8.62 11.12