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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Avg
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- 10-K Annual report
- 10.2 Non-employee Director Compensation Plan
- 10.17 Stock Option Agreement
- 10.18 Performance Unit Award
- 10.19 Stock Unit Award
- 10.20 Stock Unit Award
- 10.21 Director Restricted Stock Unit Award
- 10.24 Amended and Restated Employement Agreement
- 10.25 Amended and Restated Employement Agreement
- 10.26 Employment Agreement
- 10.27 Amended and Restated Employment Agreement
- 10.28 Employment Agreement
- 12 Statements of Computation of Ratio of Earnings
- 21 Subsidiaries
- 23 Consent of Independent Registered Public Accounting Firm
- 24 Power of Attorney
- 31.1 Certification
- 31.2 Certification
- 32.1 Certification
- 32.2 Certification
EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
Years Ended December 31, | ||||||||||||||||||
2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||
Earnings available for fixed charges: | ||||||||||||||||||
Earnings from continuing operations before income taxes, minority interest and cumulative effect of change in accounting principle | $ | 356.8 | $ | 228.4 | $ | 167.4 | $ | 79.1 | $ | 448.6 | ||||||||
Less/add: Equity (income) loss of minority-owned companies | (0.6 | ) | (2.7 | ) | (5.6 | ) | 1.0 | 3.1 | ||||||||||
Add: Dividends received from investees under the equity method | — | 1.0 | 0.1 | 0.8 | 1.8 | |||||||||||||
Less/add: Minority interest (income) loss in majority-owned subsidiaries | 0.7 | (0.1 | ) | (0.7 | ) | — | 0.2 | |||||||||||
Add: Fixed charges before capitalized interest | 119.4 | 69.3 | 80.8 | 88.8 | 106.0 | |||||||||||||
Add: Amortization of capitalized interest | 6.8 | 7.0 | 7.2 | 7.5 | 7.7 | |||||||||||||
Total earnings available for fixed charges | $ | 483.1 | $ | 302.9 | $ | 249.2 | $ | 177.2 | $ | 567.4 | ||||||||
Fixed charges: | ||||||||||||||||||
Interest expense(1) | $ | 85.9 | $ | 51.4 | $ | 62.7 | $ | 70.6 | $ | 87.7 | ||||||||
Interest portion of rental expense | 33.5 | 17.9 | 18.1 | 18.2 | 18.3 | |||||||||||||
Total fixed charges before capitalized interest | 119.4 | 69.3 | 80.8 | 88.8 | 106.0 | |||||||||||||
Capitalized interest | 2.2 | 3.1 | 5.3 | 3.1 | 4.6 | |||||||||||||
Total fixed charges | $ | 121.6 | $ | 72.4 | $ | 86.1 | $ | 91.9 | $ | 110.6 | ||||||||
Ratio of earnings to fixed charges | 3.97 | 4.18 | 2.89 | 1.93 | 5.13 | |||||||||||||
(1) | Includes amortization of discount related to indebtedness. |