Exhibit 12.1
Calculation of Ratio of Earnings to Fixed Charges
(in millions)
Year Ended December 31 | ||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Earning (loss) from continuing operations before income taxes and equity in earnings (losses) of unconsolidated entities | $ | 831.2 | $ | 727.0 | $ | 598.1 | $ | 159.2 | $ | 180.8 | ||||||||||
Fixed charges | 280.2 | 326.9 | 228.9 | 172.7 | 206.7 | |||||||||||||||
Amortization of capitalized interest | 2.6 | 3.6 | 1.1 | 0.4 | 0.2 | |||||||||||||||
Capitalized interest | (3.4 | ) | (6.5 | ) | (6.4 | ) | (5.6 | ) | (4.6 | ) | ||||||||||
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Total earnings (a) | $ | 1,110.6 | $ | 1,051.0 | $ | 821.7 | $ | 326.7 | $ | 383.1 | ||||||||||
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Fixed Charges: | ||||||||||||||||||||
Interest expensed | $ | 219.0 | $ | 251.3 | $ | 170.5 | $ | 129.0 | $ | 146.7 | ||||||||||
Capitalized interest | 3.4 | 6.5 | 6.4 | 5.6 | 4.6 | |||||||||||||||
Amortization of debt issue costs | 29.4 | 38.2 | 13.7 | 5.0 | 16.8 | |||||||||||||||
Interest included in rent expense | 28.4 | 30.9 | 38.3 | 33.1 | 38.6 | |||||||||||||||
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Total fixed charges (b) | $ | 280.2 | $ | 326.9 | $ | 228.9 | $ | 172.7 | $ | 206.7 | ||||||||||
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Ratio of earnings to fixed charges (a/b) | 4.0 | 3.2 | 3.6 | 1.9 | 1.9 | |||||||||||||||