EX-12.1 2 ex12_1.htm EXHIBIT 12.1 ex12_1.htm

                                   
EXHIBIT 12.1
 
                                       
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
 
(dollars in millions, except ratio information)
 
                                       
     
Fiscal Years Ended December 31,
         
Nine Months Ended September 30,
 
     
2004
   
2005
   
2006
   
2007
   
2008
   
2009
 
     
     Adjusted (b)
                   
     Adjusted (a)
 
Income from continuing operations
                                   
   before income taxes
      530.5       640.7       720.9       802.3       785.7       681.4  
Fixed Charges:
                                                 
   Interest on long-term and
                                               
     short-term debt including
                                               
     amortization of debt expense
    120.9       34.4       47.8       56.6       72.0       48.2  
                                                   
   Portion of rental expense as can be
                                               
     demonstrated to be representative
                                               
     of the interest factor
    35.5       39.9       43.6       53.0       58.4       45.8  
                                                   
                                                   
 Total fixed charges
      156.4       74.3       91.4       109.6       130.4       94.0  
                                                   
                                                   
Earnings before income taxes and
                                               
   fixed charges
      686.9       715.0       812.3       911.9       916.1       775.4  
                                                   
                                                   
Ratio of earnings to fixed charges
    4.39       9.62       8.89       8.32       7.03       8.25  
                                                   
(a)
In accordance with authoritative guidance in connection with noncontrolling interests in subsidiaries that became effective
 
 
January 1, 2009, the amounts reported for 2008 have been retrospectively adjusted. Retrospective adoption was required as
 
 
discussed in Note 12, "New Accounting Pronouncements," in Notes to Unaudited Condensed Consolidated Financial
 
 
Statements.
                                               
                                                   
(b)
In accordance with authoritative guidance in connection with accounting for convertible debt instruments that may be settled
 
 
in cash upon conversion that became effective January 1, 2009, the amounts reported for 2004 have been retrospectively
 
 
adjusted. Retrospective adoption was required as discussed in Note 12, "New Accounting Pronouncements," in Notes
 
 
to Unaudited Condensed Consolidated Financial Statements.