EX-12 2 l30237aexv12.htm EX-12 EX-12
 

EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands, except ratio amounts)
                                 
    Three Months Ended     Twelve Months Ended  
    December 31,     December 31,  
    2007     2006     2007     2006  
Income from continuing operations before tax
   $ 68,245     $ 26,515     $ 282,257     $ 254,234  
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
     213       4,344       1,320       5,696  
Amortization of capitalized interest
     419       310       1,406       1,228  
Interest expense
     12,262       11,900       42,684       49,387  
Interest portion of rental expense
     3,211       2,738       7,854       5,289  
 
                        
Earnings
   $ 84,350     $ 45,807     $ 335,521     $ 315,834  
 
                        
 
                                
Interest
   $ 13,157     $ 12,970     $ 48,384     $ 52,668  
Interest portion of rental expense
     3,211       2,738       7,854       5,289  
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates
     —       —       —       —  
 
                        
Fixed Charges
   $ 16,368     $ 15,708     $ 56,238     $ 57,957  
 
                        
 
                                
Ratio of Earnings to Fixed Charges
     5.15       2.92       5.97       5.45