Exhibit (12)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
2002 2001 2000
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Net earnings $106.0 $19.0 $148.5
Add (deduct):
Income taxes 58.0 26.1 69.5
Minority interest in earnings
of consolidated subsidiaries 3.4 2.7 3.0
Cumulative effect of a change in
accounting princple, net of tax (2.8) 2.5 (25.4)
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Net earnings as defined 164.6 50.3 195.6
Fixed charges:
Interest on debt 28.7 35.5 40.7
Interest element of rentals 5.2 5.4 5.3
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Total fixed charges 33.9 40.9 46.0
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Total adjusted earnings available
for payment of fixed charges $198.5 $91.2 $241.6
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Ratio of earnings to fixed charges 5.9 2.2 5.3
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For purpose of computing this ratio, "Net earnings" consist of (a) income from
continuing operations before income taxes and adjusted for minority interest,
and (b) "Fixed Charges," consists of interest on debt and the estimated interest
portion of rents.
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