Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||
(In Thousands, Except Ratios) | ||||||||||||||||||||
Twelve months | Twelve months | Twelve months | Nine Months | Nine Months | ||||||||||||||||
Ended | Ended | Ended | Ended | Ended | ||||||||||||||||
September 30, | December 31, | December 31, | September 30, | September 30, | ||||||||||||||||
2009 | 2008 | 2007 | 2009 | 2008 | ||||||||||||||||
Earnings: (1) | ||||||||||||||||||||
Net income (2) | $ | 102,242 | $ | 111,136 | $ | 106,506 | $ | 71,495 | $ | 80,389 | ||||||||||
Income taxes | 58,544 | 67,560 | 66,741 | 40,566 | 49,582 | |||||||||||||||
Equity in (income) losses of equity investees, net of distributions | - | - | - | - | - | |||||||||||||||
Fixed Charges (See below) (3) | 79,945 | 80,611 | 81,145 | 59,127 | 59,793 | |||||||||||||||
Less: Preferred stock dividend | - | - | - | - | - | |||||||||||||||
Total adjusted earnings | $ | 240,731 | $ | 259,307 | $ | 254,392 | $ | 171,188 | $ | 189,764 | ||||||||||
Fixed charges: (3) | ||||||||||||||||||||
Total interest expense | $ | 79,190 | $ | 79,877 | $ | 80,576 | $ | 58,871 | $ | 59,558 | ||||||||||
Interest component of rents | 755 | 734 | 569 | 256 | 235 | |||||||||||||||
Preferred stock dividend | - | - | - | - | - | |||||||||||||||
Total fixed charges | $ | 79,945 | $ | 80,611 | $ | 81,145 | $ | 59,127 | $ | 59,793 | ||||||||||
Ratio of earnings to fixed charges | 3.0 | 3.2 | 3.1 | 2.9 | 3.2 |