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EXHIBIT 12.01
STATEMENT RE: COMPUTATION OF RATIO
OF EARNINGS TO FIXED CHARGES
(IN MILLIONS)
Year Ended December 31:
(In millions)
1999 1998 1997 1996 1995
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HISTORICAL INFORMATION
EARNINGS:
Income (Loss) from Continuing
Operations before Income Taxes $(56.2) $23.0 $17.7 $60.9 $104.6
Interest Expense (net of amount
capitalized) 31.9 26.7 23.6 37.9 49.8
Amortization of Previously
Capitalized Interest Expense 0.2 -- 0.4 0.4 0.4
------ ----- ----- ----- ------
Total Earnings $(24.1) $49.7 $41.7 $99.2 $154.8
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FIXED CHARGES:
Interest Expense (net of amount
capitalized) $ 31.9 $26.7 $23.6 $37.9 $ 49.8
Capitalized Interest 11.2 7.4 0.9 0.6 1.5
Total Fixed Charges Including ------ ----- ----- ----- ------
Capitalized Interest $ 43.1 $34.1 $24.5 $38.5 $ 51.3
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Ratio of Earnings to Fixed Charges * 1.5x 1.7x 2.6x 3.0x
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* For the year ended December 31, 1999, there was a deficiency of total
earnings to fixed charges in the amount of $67.2 million.