EXHIBIT 12.2
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS
TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Year Ended December 31
2001 2000 1999 1998 1997
(in millions, except ratios)
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Earnings
Income (Loss) Before Income Taxes $ 825.1 $ 865.6 $ (165.5) $ 920.2 $ 916.7
Fixed Charges 189.0 197.1 155.2 138.3 101.1
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Adjusted Earnings $ 1,014.1 $ 1,062.7 $ (10.3) $ 1,058.5 $ 1,017.8
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Combined Fixed Charges and Preferred
Stock Dividends
Interest and Debt Expense $ 169.6 $ 181.8 $ 137.8 $ 119.9 $ 84.9
Amortization of Deferred Debt Costs 7.1 2.4 2.4 3.3 0.7
Portion of Rents Deemed
Representative of Interest (a) 12.3 12.9 15.0 15.1 15.5
Preferred Stock Dividends -- -- -- 2.9 19.5
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Total Combined Fixed Charges and
Preferred Stock Dividends $ 189.0 $ 197.1 $ 155.2 $ 141.2 $ 120.6
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Ratio of Earnings to Combined
Fixed Charges and Preferred Stock
Dividends 5.4 5.4 (0.1) 7.5 8.4
(a) Generally deemed to be one-third of rental expense.