1 EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Three Quarters Ended March 31, April 2, 2000 1999 --------- -------- (CONTINUING OPERATIONS IN MILLIONS OF DOLLARS, EXCEPT RATIOS) EARNINGS: Net income . . . . . . . . . . . . . . . . . . . . . $ 8.6 $46.8 Plus: Income taxes. . . . . . . . . . . . . . . . . 4.6 26.4 Fixed charges . . . . . . . . . . . . . . . . 22.0 13.2 Amortization of capitalized interest. . . . . - - Less: Interest capitalized during the period. . . . - - Undistributed earnings in equity investments. 3.8 (4.3) ----- ----- $39.0 $82.1 ===== ===== FIXED CHARGES: Interest expense . . . . . . . . . . . . . . . . . . $16.6 $ 7.8 Plus: Interest capitalized during the period. . . . - - Portion of rents deemed representative of the interest factor. . . . . . . . . . . . . . . 5.4 5.4 ----- ----- $22.0 $13.2 ===== ===== RATIO OF EARNINGS TO FIXED CHARGES . . . . . . . . . 1.77 6.22 ===== =====