Exhibit 12 Statement of Computation of Earnings to Fixed Charges (in Thousands, Except Ratio Data) Nine Months Ended For the Years Ended December 31 9/30/95 1994 1993 1992 1991 1990 ------- ----- ----- ---- ----- ----- Earnings Available to Fixed Charges Income before income taxes $260,205 $329,292 $275,556 $277,564 $224,048 $210,242 Fixed charges - Interest Expense 36,848 29,970 19,062 20,417 13,151 13,104 Portion of rent to be determined to be interest (1) Eliminate Equity in Earnings 8,580 10,494 8,580 6,237 5,643 5,775 (2,000) (5,700) (3,800) (3,400) (1,200) (2,500) ________ ________ ________ _______ ________ ________ Total Earnings Available for Fixed Charges $303,633 $364,056 $299,398 $300,818 $241,642 $226,621 ======== ======== ========= ======== ======== ========= Fixed Charges Interest Expense $ 36,848 $ 29,970 $ 19,062 $ 20,417 $ 13,151 $ 13,104 Portion of rent determined to be interest (1) 8,580 10,494 8,580 6,237 5,643 5,775 -------- -------- -------- -------- -------- -------- Total Fixed Charges $ 45,428 $ 40,464 $ 27,642 $ 26,654 $ 18,794 $ 18,879 ======== ======== ======== ======== ======== ======== Ratio of Earnings to Fixed Charges 6.68 9.00 10.83 11.29 12.86 12.00 ---- ---- ----- ----- ----- ----- (1) 33% of gross rent expense was deemed to approximate the interest portion of short-term and long-term leases.