1 EXHIBIT 12: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES -------------------------------------------------------------- Three Periods Three Periods Ended Ended Year Ended December 31, 3/23/96 3/25/95 1995 1994 1993 1992 1991 ------- ------- ---- ---- ---- ---- ---- (Dollars in Millions) Income from continuing operations before income taxes $ 16.9 $ 35.2 $ 162.1 $ 171.5 $ 161.7 $ 150.2 $ 110.9 Interest expense 2.8 1.1 9.2 -- -- -- -- Interest portion of rental expense 1.7 1.7 7.5 4.6 3.5 2.6 3.5 Amortization of previously capitalized interest 0.1 -- 0.1 -- -- -- -- Less interest capitalized during the period (0.9) (0.7) (5.4) -- -- -- -- --------- --------- -------- -------- --------- -------- --------- Earnings as Adjusted $ 20.6 $ 37.3 $ 173.5 $ 176.1 $ 165.2 $ 152.8 $ 114.4 ========= ========= ======== ======== ========= ======== ========= Interest expense $ 2.8 $ 1.1 $ 9.2 $ -- $ -- $ -- $ -- Interest portion of rental expense 1.7 1.7 7.5 4.6 3.5 2.6 3.5 --------- --------- -------- -------- --------- -------- --------- Fixed Charges $ 4.5 $ 2.8 $ 16.7 $ 4.6 $ 3.5 $ 2.6 $ 3.5 ========= ========= ======== ======== ========= ======== ========= Ratio of Earnings to Fixed Charges 4.58 13.32 10.39 38.28 47.20 58.77 32.69 ========= ========= ======== ======== ========= ======== ========= Page 1