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Ratio of Earnings to Fixed Charges
French GAAP
| Predecessor | FIMEP | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended December 31, | For the period from January 1, 2002 to December 20, 2002 | For the period from December 11, 2002 to December 31, 2002 | | ||||||||||||
| Combined Year Ended December 31, 2002 | |||||||||||||||
| 1998 | 1999 | 2000 | 2001 | ||||||||||||
| (€ in millons) | |||||||||||||||
Earnings | 193.00 | 204.00 | 235.00 | 176.00 | 180 | (129 | ) | 51 | ||||||||
Minority interest | 2.00 | 2.00 | 2.00 | 2.00 | 1 | (2 | ) | (1 | ) | |||||||
Provision for income taxes | 99.00 | 104.00 | 106.00 | 56.00 | 55 | (29 | ) | 26 | ||||||||
Income/loss from equity method investees | (7.00 | ) | (1.00 | ) | (4.00 | ) | (3.00 | ) | (2 | ) | (2 | ) | (4 | ) | ||
Interest capitalized | 0.00 | 0.00 | (1.00 | ) | (2.00 | ) | (2 | ) | (2 | ) | (4 | ) | ||||
Fixed charges | 107.20 | 101.00 | 155.00 | 189.00 | 145 | 29 | 174 | |||||||||
Dividends from equity method investees | 2.00 | 3.00 | 4.00 | 2.00 | 2 | — | 2 | |||||||||
Adjusted "Earnings" | 396.20 | 413.00 | 497.00 | 420.00 | 379 | (135 | ) | 244 | ||||||||
Fixed Charges: | ||||||||||||||||
Interest costs | 80.00 | 74.00 | 122.00 | 148.00 | 107 | 26 | 133 | |||||||||
Discount expenses | 24.00 | 25.80 | 28.00 | 38.00 | 35 | 3 | 38 | |||||||||
Interest on rentals | 3.20 | 4.00 | 4.00 | 4.10 | 3 | — | 3 | |||||||||
Total fixed charges | 107.20 | 103.80 | 154.00 | 190.10 | 145 | 29 | 174 | |||||||||
Ratio of earnings to fixed charges | 3.69 | 3.98 | 3.23 | 2.21 | 2.61 | * | 1.40 | |||||||||
Ratio of Earnings to Fixed Charges
US GAAP
| Predecessor | FIMEP | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year Ended December 31, | For the period from January 1, 2002 to December 20, 2002 | For the period from December 11, 2002 to December 31, 2002 | | | |||||||||||||
| Combined Year Ended December 31, 2002 | Pro FormaYear Ended December 31, 2002 | ||||||||||||||||
| 1998 | 1999 | 2000 | 2001 | ||||||||||||||
| (€ in millons) | |||||||||||||||||
Earnings | 193.00 | 204.00 | 235.00 | 144.00 | 208 | (129 | ) | 79 | (44 | ) | ||||||||
Minority interest | 2.00 | 2.00 | 2.00 | 2.00 | 1 | (2 | ) | (1 | ) | (1 | ) | |||||||
Provision for income taxes | 99.00 | 108.30 | 111.10 | 55.30 | 82 | (26 | ) | 56 | — | |||||||||
Income/loss from equity method investees | (7.00 | ) | (1.00 | ) | (4.00 | ) | (3.00 | ) | (2 | ) | (2 | ) | (4 | ) | (4 | ) | ||
Interest capitalized | 0.00 | 0.00 | (1.00 | ) | (2.00 | ) | (2 | ) | (2 | ) | (4 | ) | (4 | ) | ||||
Fixed charges | 83.20 | 78.00 | 126.00 | 152.00 | 110 | 26 | 136 | 298 | ||||||||||
Dividends from equity method investees | 2.00 | 3.00 | 4.00 | 2.00 | 2 | — | 2 | 2 | ||||||||||
Adjusted "Earnings" | 372.20 | 394.30 | 473.10 | 350.30 | 399 | (135 | ) | 264 | 247 | |||||||||
Fixed Charges: | ||||||||||||||||||
Interest costs | 80.00 | 74.00 | 122.00 | 148.00 | 107 | 26 | 133 | 295 | ||||||||||
Interest on rentals | 3.20 | 4.00 | 4.00 | 4.10 | 3 | — | 3 | 3 | ||||||||||
Total fixed charges | 83.20 | 78.00 | 126.00 | 152.10 | 110 | 26 | 136 | 298 | ||||||||||
Ratio of earnings to fixed charges | 4.47 | 5.06 | 3.75 | 2.37 | 3.63 | * | 1.94 | * | ||||||||||
- *
- For the period from December 10, 2002 to December 31, 2002, earnings were inadequate to cover fixed charges and the amount to cover the deficiency was €164 million under French GAAP and €161 million under US GAAP. For the year ended December 31, 2002, earnings would have been inadequate to cover fixed charges on aPro FormaUS GAAP basis, and the amount to cover the deficiency would have been €51 million.
Ratio of Earnings to Fixed Charges French GAAP
Ratio of Earnings to Fixed Charges US GAAP