Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
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| Fiscal Years Ending | ||||
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| Restated |
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| 2005 | 2004 | 2003 | 2002 | 2001 |
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Net income for the period |
| 372,421 | 402,907 | 337,408 | 382,727 | 87,859 |
Add: Provision for income taxes |
| 155,770 | 232,392 | 185,493 | 210,237 | 58,362 |
Add: Minority interest |
| (120) | (68) | 248 | (97) | 18,750 |
Fixed charges |
| 276,974 | 314,681 | 337,164 | 351,622 | 175,457 |
Less: Capitalized interest |
| (6,490) | (3,491) | (3,325) | (9,264) | (3,249) |
Income before taxes on income and fixed charges |
| 798,555 | 946,421 | 856,988 | 935,225 | 337,179 |
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Fixed Charges: |
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Interest |
| 225,536 | 268,438 | 294,175 | 296,983 | 143,718 |
Capitalized interest |
| 6,490 | 3,491 | 3,325 | 9,264 | 3,249 |
Rentals at computed interest factor (1) |
| 38,805 | 37,010 | 34,730 | 37,504 | 25,343 |
Amortization of debt discount expense |
| 6,143 | 5,742 | 4,934 | 7,871 | 3,147 |
Total fixed charges |
| 276,974 | 314,681 | 337,164 | 351,622 | 175,457 |
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Ratio of earnings to fixed charges |
| 2.88 | 3.01 | 2.54 | 2.66 | 1.92 |
(1) | Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs. |
97
