EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratios)
(Unaudited)
For the Six Months Ended June 30, 2012 | |
Earnings: | |
Income before income taxes | $ 804.9 |
Add: Dividends from affiliates | 6.3 |
Fixed charges | 151.6 |
Total earnings | $ 962.8 |
Fixed charges: | |
Interest expense(a) | $ 82.5 |
Rent expense interest factor(b) | 69.1 |
Total fixed charges | $ 151.6 |
Ratio of earnings to fixed charges | 6.35x |
(a) | Interest expense includes interest on third-party indebtedness. |
(b) | The rent expense interest factor reflects an appropriate portion (one-third) of rent expense representative of interest. |