EX-12 2 d78823exv12.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 
EXHIBIT 12
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
                                         
    Years Ended December 31,  
(In thousands)   2010     2009     2008     2007     2006  
 
Earnings from continuing operations before income taxes
  $ 185,340     $ 140,390     $ 418,199     $ 249,997     $ 222,063  
Add:
                                       
Interest on indebtedness
    36,545       35,347       47,011       33,311       29,227  
Amortization of debt expense
    1,037       973       1,070       796       704  
Portion of rents representative of the interest factor
    9,472       10,109       10,636       8,383       7,547  
Deduct:
                                       
Undistributed earnings from less-than-50-percent-owned entities
    (352 )     (132 )     (66 )     427       (61 )
                                         
Earnings (as defined)
  $ 232,042     $ 186,687     $ 476,850     $ 292,914     $ 259,480  
                                         
Fixed charges:
                                       
Interest on indebtedness
  $ 36,545     $ 35,347     $ 47,011     $ 33,311     $ 29,227  
Amortization of debt expense
    1,037       973       1,070       796       704  
Portion of rents representative of the interest factor
    9,472       10,109       10,636       8,383       7,547  
                                         
Total fixed charges
  $ 47,054     $ 46,429     $ 58,717     $ 42,490     $ 37,478  
                                         
Ratio of earnings to fixed charges
    4.9 x     4.0 x     8.1 x     6.9 x     6.9 x
                                         
 
The revenues and financial performance of the communications products business, divested in 2010, have been removed from the presentation of continuing operations and presented as a single line item in “Discontinued Operations”.