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Statement Regarding Computation of
Ratio of Earnings to Fixed Charges
| Year Ended December 31, | Nine Months Ended September 29, | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
($ in millions) | Pro Forma 2001 | Historical 2002 | Pro Forma 2002 | ||||||||
Earnings (loss) before taxes | $ | (72.4 | ) | $ | 189.4 | $ | 287.1 | ||||
Plus: | |||||||||||
Interest expensed and capitalized and amortization of financing costs | 138.7 | 56.8 | 101.0 | ||||||||
Interest expense within rent | 25.5 | 12.2 | 15.2 | ||||||||
Amortization of capitalized interest | 2.7 | 1.5 | 1.5 | ||||||||
Distributed income of equity investees | — | — | — | ||||||||
Less: | |||||||||||
Interest capitalized | (1.8 | ) | (1.7 | ) | (1.7 | ) | |||||
Adjusted Earnings | 92.7 | 258.2 | 403.1 | ||||||||
Fixed Charges | 164.2 | 69.0 | 116.2 | ||||||||
Ratio of earnings to fixed charges | 0.6x | 3.7x | 3.5x |
| Year Ended December 31, | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
($ in millions) | |||||||||||||||||
2001 | 2000 | 1999 | 1998 | 1997 | |||||||||||||
Earnings (loss) before taxes | $ | (113.7 | ) | $ | 113.9 | $ | 171.2 | $ | 27.3 | $ | 85.9 | ||||||
Plus: | |||||||||||||||||
Interest expensed and capitalized and amortization of financing costs | 89.7 | 98.5 | 109.6 | 80.9 | 57.9 | ||||||||||||
Interest expense within rent | 21.7 | 25.4 | 18.0 | 15.4 | 12.7 | ||||||||||||
Amortization of capitalized interest | 2.3 | 2.0 | 1.9 | 2.1 | 2.6 | ||||||||||||
Distributed income of equity investees | — | — | 1.5 | 2.5 | 6.9 | ||||||||||||
Less: | |||||||||||||||||
Interest capitalized | (1.4 | ) | (3.3 | ) | (2.0 | ) | (2.3 | ) | (4.4 | ) | |||||||
Adjusted earnings | (1.4 | ) | 236.5 | 300.2 | 125.9 | 161.6 | |||||||||||
Fixed charges (1) | 111.4 | 123.9 | 127.6 | 96.3 | 70.6 | ||||||||||||
Ratio of earnings to fixed charges | —(2 | ) | 1.9x | 2.4x | 1.3x | 2.3x | |||||||||||
- (1)
- Fixed charges include interest expensed and capitalized as well as interest expense within rent.
- (2)
- During 2001 there was a deficiency of earnings to fixed charges of $112.8 million.
Statement Regarding Computation of Ratio of Earnings to Fixed Charges