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 | Twelve Months Ended | |||||||||||||||
December 31, | December 31, | |||||||||||||||
2007 | 2006 | 2007 | 2006 | |||||||||||||
Income from continuing operations before tax | $ | 68,245 | $ | 26,515 | $ | 282,257 | $ | 254,234 | ||||||||
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt | 213 | 4,344 | 1,320 | 5,696 | ||||||||||||
Amortization of capitalized interest | 419 | 310 | 1,406 | 1,228 | ||||||||||||
Interest expense | 12,262 | 11,900 | 42,684 | 49,387 | ||||||||||||
Interest portion of rental expense | 3,211 | 2,738 | 7,854 | 5,289 | ||||||||||||
Earnings | $ | 84,350 | $ | 45,807 | $ | 335,521 | $ | 315,834 | ||||||||
Interest | $ | 13,157 | $ | 12,970 | $ | 48,384 | $ | 52,668 | ||||||||
Interest portion of rental expense | 3,211 | 2,738 | 7,854 | 5,289 | ||||||||||||
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates | — | — | — | — | ||||||||||||
Fixed Charges | $ | 16,368 | $ | 15,708 | $ | 56,238 | $ | 57,957 | ||||||||
Ratio of Earnings to Fixed Charges | 5.15 | 2.92 | 5.97 | 5.45 | ||||||||||||