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Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three months ended March 31, | ||||
2012 | 2011 | |||
$ | $ | |||
Computation of earnings: | ||||
Income before income taxes | 23.7 | 57.5 | ||
Plus: fixed charges | 7.3 | 6.2 | ||
Less: capitalized interest | (0.4 | ) | (0.2 | ) |
Earnings | 30.6 | 63.5 | ||
Computation of fixed charges | ||||
Interest expense, net | 6.5 | 5.7 | ||
Capitalized interest | 0.4 | 0.2 | ||
Interest portion of operating lease expense | 0.4 | 0.3 | ||
Fixed charges | 7.3 | 6.2 | ||
Ratio of earnings to fixed charges | 4.2 | 10.2 |