EXHIBIT 12.2
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED
CHARGES AND PREFERRED STOCK DIVIDENDS
Six Months Year Ended December 31
Ended
June 30
2001 2000 1999 1998 1997 1996
(in millions, except ratios)
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Earnings
Income (Loss) Before Income Taxes $ 436.4 $ 865.6 $ (165.5) $ 920.2 $ 916.7 $ 567.8
Fixed Charges 94.2 197.1 155.2 138.3 101.1 71.9
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Adjusted Earnings $ 530.6 $ 1,062.7 $ (10.3) $ 1,058.5 $ 1,017.8 $ 639.7
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Combined Fixed Charges and Preferred
Stock Dividends
Interest and Debt Expense $ 87.0 $ 181.8 $ 137.8 $ 119.9 $ 84.9 $ 58.5
Amortization of Deferred Debt Costs 1.2 2.4 2.4 3.3 0.7 -
Portion of Rents Deemed
Representative of Interest (a) 6.0 12.9 15.0 15.1 15.5 13.4
Preferred Stock Dividends - - - 2.9 19.5 19.5
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Total Combined Fixed Charges and
Preferred Stock Dividends $ 94.2 $ 197.1 $ 155.2 $ 141.2 $ 120.6 $ 91.4
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Ratio of Earnings to Combined
Fixed Charges and Preferred Stock
Dividends 5.6 5.4 (0.1) 7.5 8.4 7.0
(a) Generally deemed to be one-third of rental expense.