Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
| Three Months Ended 3/31/12 | Years Ended December 31, | |||||||||||||||||||||||
| Amounts in millions, except ratios | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
Ratio of Earnings to Fixed Charges | 12.3 | x | 5.6 | x | 3.9 | x | 7.3 | x | 5.0 | x | 6.4 | x | ||||||||||||
Earnings | ||||||||||||||||||||||||
Income (loss) before taxes | $ | 159.4 | $ | 243.5 | $ | 153.1 | $ | 317.0 | $ | 210.1 | $ | 267.9 | ||||||||||||
Add: Fixed charges | 14.1 | 51.7 | 51.1 | 50.3 | 52.1 | 49.4 | ||||||||||||||||||
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Subtotal | 173.5 | 295.2 | 204.2 | 367.3 | 262.2 | 317.3 | ||||||||||||||||||
Less: Capitalized interest | (0.2 | ) | (7.1 | ) | (4.8 | ) | (0.9 | ) | (1.3 | ) | (1.0 | ) | ||||||||||||
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Total | $ | 173.3 | $ | 288.1 | $ | 199.4 | $ | 366.4 | $ | 260.9 | $ | 316.3 | ||||||||||||
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Fixed charges | ||||||||||||||||||||||||
Interest expense | $ | 9.7 | $ | 29.2 | $ | 32.3 | $ | 35.6 | $ | 36.9 | $ | 35.1 | ||||||||||||
Capitalized interest | 0.2 | 7.1 | 4.8 | 0.9 | 1.3 | 1.0 | ||||||||||||||||||
Interest portion of rent expense (1) | 4.2 | 15.4 | 14.0 | 13.8 | 13.9 | 13.3 | ||||||||||||||||||
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Total | $ | 14.1 | $ | 51.7 | $ | 51.1 | $ | 50.3 | $ | 52.1 | $ | 49.4 | ||||||||||||
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Ratio of Earnings to Fixed Charges | 12.3 | x | 5.6 | x | 3.9 | x | 7.3 | x | 5.0 | x | 6.4 | x | ||||||||||||
| (1) | The interest portion of rent expense represents the estimated interest component of such rental payments. |
