Exhibit 12.1
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
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| Six Months Ended June 30, |
| Year Ended December 31, |
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($ in millions, except ratios) |
| 2012 |
| 2011 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
| 2007 |
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Determination of earnings (losses): |
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Income (loss) from continuing operations before taxes |
| $ | 245.2 |
| $ | 239.5 |
| $ | 456.1 |
| $ | 204.5 |
| $ | 10.2 |
| $ | (670.0 | ) | $ | 131.6 |
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Add: |
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Interest expense (a) |
| 35.9 |
| 48.0 |
| 97.4 |
| 151.8 |
| 180.2 |
| 231.1 |
| 219.3 |
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Rent expense (b) |
| 4.6 |
| 4.9 |
| 9.7 |
| 9.5 |
| 9.3 |
| 9.4 |
| 8.1 |
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Total earnings (losses) as defined |
| $ | 285.7 |
| $ | 292.4 |
| $ | 563.2 |
| $ | 365.8 |
| $ | 199.7 |
| $ | (429.5 | ) | $ | 359.0 |
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Fixed charges: |
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Interest expense, net (a) |
| $ | 35.9 |
| $ | 48.0 |
| $ | 97.4 |
| $ | 151.8 |
| $ | 180.2 |
| $ | 231.1 |
| $ | 219.3 |
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Rent expense (b) |
| 4.6 |
| 4.9 |
| 9.7 |
| 9.5 |
| 9.3 |
| 9.4 |
| 8.1 |
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Capitalized interest |
| 1.5 |
| 0.5 |
| 1.7 |
| — |
| — |
| — |
| — |
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Total fixed charges |
| $ | 42.0 |
| $ | 53.4 |
| $ | 108.8 |
| $ | 161.3 |
| $ | 189.5 |
| $ | 240.5 |
| $ | 227.4 |
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Ratio of earnings to fixed charges (c) |
| 6.8 |
| 5.5 |
| 5.2 |
| 2.3 |
| 1.1 |
| — | (c) | 1.6 |
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(a) Interest expense includes amortization of debt expenses.
(b) Rent expense included in the computation consists of one-third of rental expense, which we believe to be a conservative estimate of an interest factor in our leases, which are not material.
(c) Earnings were insufficient to cover fixed charges by $670.0 million for the year ended December 31, 2008, which included a non-cash pre-tax goodwill impairment charge of $717.5 million.
