COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES                                                                  EXHIBIT 12

( in thousands )                                                                                                             
                                                                                       Years ended December 31,
                                                                          1997                  1996                1995
                                                                                                                             
                                                                                                                 
EARNINGS AS DEFINED:
Earnings from operations before income taxes after eliminating                                                               
     undistributed earnings of 20%- to 50%-owned affiliates        $        286,135  $               221,565 $        179,127
Fixed charges excluding capitalized interest and preferred stock                                                             
     dividends of majority-owned subsidiary companies                        22,618                   13,050           15,652
                                                                                                                             
Earnings as defined                                                $        308,753  $               234,615 $        194,779
                                                                                                                             
FIXED CHARGES AS DEFINED:                                                                                                    
Interest expense, including amortization of debt issue costs       $         18,543  $                 9,629 $         11,223
Interest capitalized                                                          1,193                      749              447
Portion of rental expense representative of the interest factor               4,075                    3,421            4,429
Preferred stock dividends of majority-owned subsidiary companies                 80                       80               80
                                                                                                                             
Fixed charges as defined                                           $         23,891  $                13,879 $         16,179
                                                                                                                             
RATIO OF EARNINGS TO FIXED CHARGES                                            12.92                    16.90            12.04