EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands, except ratio amounts)
(Dollars in thousands, except ratio amounts)
Three Months Ended | Nine Months Ended | |||||||||||||||
September 30, | September 30, | |||||||||||||||
2007 | 2006 | 2007 | 2006 | |||||||||||||
Income from continuing operations before income taxes | $ | 56,309 | $ | 56,437 | $ | 214,012 | $ | 227,719 | ||||||||
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt | 1,227 | 536 | 1,107 | 1,352 | ||||||||||||
Amortization of capitalized interest | 409 | 310 | 987 | 918 | ||||||||||||
Interest expense | 10,698 | 11,704 | 30,422 | 37,487 | ||||||||||||
Interest portion of rental expense | 1,572 | 1,126 | 4,643 | 3,223 | ||||||||||||
Earnings | $ | 70,215 | $ | 70,113 | $ | 251,171 | $ | 270,699 | ||||||||
Interest | $ | 12,794 | $ | 12,775 | $ | 35,227 | $ | 39,699 | ||||||||
Interest portion of rental expense | 1,572 | 1,126 | 4,643 | 3,223 | ||||||||||||
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates | — | — | — | — | ||||||||||||
Fixed Charges | $ | 14,366 | $ | 13,901 | $ | 39,870 | $ | 42,922 | ||||||||
Ratio of Earnings to Fixed Charges | 4.89 | 5.04 | 6.30 | 6.31 | ||||||||||||