Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
Calculation of Ratio of Earnings to Fixed Charges (in millions) | ||||||||||||||||||||||||||||
Three Months Ended March 31 | Year Ended December 31 | |||||||||||||||||||||||||||
2014 | 2013 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Earning (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated entities | $ | 242.1 | $ | 228.5 | $ | 825.0 | $ | 831.2 | $ | 727.0 | $ | 598.1 | $ | 159.2 | ||||||||||||||
Fixed charges | 52.0 | 60.6 | 237.0 | 280.2 | 326.9 | 228.9 | 172.7 | |||||||||||||||||||||
Amortization of capitalized interest | 0.8 | 0.7 | 2.9 | 2.6 | 3.6 | 1.1 | 0.4 | |||||||||||||||||||||
Capitalized interest | (0.5 | ) | (0.7 | ) | (2.3 | ) | (3.4 | ) | (6.5 | ) | (6.4 | ) | (5.6 | ) | ||||||||||||||
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Total earnings(a) | $ | 294.4 | $ | 289.1 | $ | 1,062.6 | $ | 1,110.6 | $ | 1,051.0 | $ | 821.7 | $ | 326.7 | ||||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||||||
Interest expensed | $ | 42.4 | $ | 50.4 | $ | 188.4 | $ | 219.0 | $ | 251.3 | $ | 170.5 | $ | 129.0 | ||||||||||||||
Capitalized interest | 0.5 | 0.7 | 2.3 | 3.4 | 6.5 | 6.4 | 5.6 | |||||||||||||||||||||
Amortization of debt issue costs | 2.6 | 2.8 | 19.9 | 29.4 | 38.2 | 13.7 | 5.0 | |||||||||||||||||||||
Interest included in rent expense | 6.5 | 6.7 | 26.4 | 28.4 | 30.9 | 38.3 | 33.1 | |||||||||||||||||||||
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Total fixed charges(b) | $ | 52.0 | $ | 60.6 | $ | 237.0 | $ | 280.2 | $ | 326.9 | $ | 228.9 | $ | 172.7 | ||||||||||||||
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Ratio of earnings to fixed charges (a/b) | 5.7 | 4.8 | 4.5 | 4.0 | 3.2 | 3.6 | 1.9 |