Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(Dollars in millions, except ratios)
| For the Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2005 | 2004 | 2003 | 2002 | 2001 | |||||||
| Earnings as defined: | |||||||||||
| Income before income taxes, as reported . | $1,280.6 | $1,178.8 | $1,049.1 | $ 954.4 | $ 816.3 | ||||||
| Add: Dividends from affiliates | 16.2 | 13.9 | 15.9 | 17.2 | 28.4 | ||||||
| Interest expense | 78.0 | 51.1 | 57.9 | 45.5 | 90.9 | ||||||
| Interest factor (re: rentals)(a) | 157.6 | 161.0 | 162.6 | 154.4 | 150.9 | ||||||
| Total earnings | $1,532.4 | $1,404.8 | $1,285.5 | $1,171.5 | $1,086.5 | ||||||
| Fixed charges as defined: | |||||||||||
| Interest expense | $ 78.0 | $ 51.1 | $ 57.9 | $ 45.5 | $ 90.9 | ||||||
| Interest factor (re: rentals)(a) | 157.6 | 161.0 | 162.6 | 154.5 | 150.9 | ||||||
| Total fixed charges | $ 235.6 | $ 212.1 | $ 220.5 | $ 200.0 | $ 241.8 | ||||||
| Ratio of earnings to fixed charges | 6.50x | 6.62x | 5.83x | 5.86x | 4.49x | ||||||
| (a) | The interest factor related to rentals reflects the appropriate portion of rental expense representative of an interest factor. |
