EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands, except ratio amounts)
Three Months Ended | ||||||||||||||||||||||||||||
March 31, | Years Ended December 31, | |||||||||||||||||||||||||||
2010 | 2009 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||
Income (loss) from continuing operations before tax | $ | 74,509 | $ | 17,358 | $ | (94,230 | ) | $ | 439,587 | $ | 264,656 | $ | 208,633 | $ | 308,197 | |||||||||||||
Share of undistributed (losses) income from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt | (349 | ) | 623 | 907 | (1,418 | ) | 1,321 | 5,696 | 4,762 | |||||||||||||||||||
Amortization of capitalized interest | 505 | 481 | 4,096 | 1,839 | 1,406 | 1,229 | 1,204 | |||||||||||||||||||||
Interest expense | 9,558 | 8,429 | 41,883 | 44,401 | 42,314 | 49,037 | 51,299 | |||||||||||||||||||||
Interest portion of rental expense | 2,118 | 2,155 | 8,527 | 8,687 | 7,516 | 4,950 | 3,384 | |||||||||||||||||||||
Earnings (loss) | $ | 86,341 | $ | 29,046 | $ | (38,817 | ) | $ | 493,096 | $ | 317,213 | $ | 269,545 | $ | 368,846 | |||||||||||||
Interest | $ | 9,585 | $ | 9,292 | $ | 43,660 | $ | 47,354 | $ | 48,014 | $ | 52,318 | $ | 51,919 | ||||||||||||||
Interest portion of rental expense | 2,118 | 2,155 | 8,527 | 8,687 | 7,516 | 4,950 | 3,384 | |||||||||||||||||||||
Fixed Charges | $ | 11,703 | $ | 11,447 | $ | 52,187 | $ | 56,041 | $ | 55,530 | $ | 57,268 | $ | 55,303 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 7.38 | 2.54 | (0.74 | ) | 8.80 | 5.71 | 4.71 | 6.67 | ||||||||||||||||||||