EX-12 5 ex12-1.htm STATEMENT RE: COMPUTATION OF RATIOS Statement of Computation of Ratios of Earnings to Fixed Charges

Exhibit 12.1

 

STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(dollars in millions, except ratio information)

 

     Fiscal Years Ended December 31,

  

 

 

     2002

   2003

   2004

   2005

   2006

  

Income from continuing

                             

operations before income taxes

   432.3    540.4    615.3    640.7    720.9     
    
  
  
  
  
  

Fixed Charges:

                             

Interest on long-term and short-term debt including amortization of debt expense

   19.2    40.9    36.1    34.4    47.8     

Portion of rental expense as can be demonstrated to be representative of the interest factor

   28.7    34.7    35.5    39.9    43.6     
    
  
  
  
  
  

Total fixed charges

   47.9    75.6    71.6    74.3    91.4     
    
  
  
  
  
  

Earnings before income taxes plus fixed charges

   480.2    616.6    686.9    715.0    812.3     
    
  
  
  
  
  

Ratio of earnings to fixed charges

   10.03    8.15    9.59    9.62    8.89