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Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In millions, except ratio of earnings to fixed charges)
Years Ended August 31,
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1998 1997 1996 1995 1994
EARNINGS AS DEFINED:
Earnings before income taxes
after eliminating undistributed
earnings of 50% or less owned
affiliates .................................. $403.9 $369.9 $350.0 $288.7 $346.8
Fixed charges as below ......................... 17.5 13.1 15.9 17.1 14.3
------ ------ ------ ------ ------
Earnings as defined ............................ $421.4 $383.0 $365.9 $305.8 $361.1
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FIXED CHARGES AS DEFINED:
Interest expense, including amortization
of debt issue costs .......................... $ 13.0 $ 8.0 $ 11.0 $ 13.0 $ 11.0
Interest capitalized ........................... -- -- -- -- --
Portion of rental expense representative
of the interest factor (estimated at
33% of rent expense) ......................... 4.5 5.1 4.9 4.1 3.3
Preferred stock dividends of majority-
owned subsidiary company ..................... -- -- -- -- --
Share of interest expense related to
guaranteed debt of 50% owned affiliated
company ...................................... -- -- -- -- --
------ ------ ------ ------ ------
Fixed charges as defined ....................... $ 17.5 $ 13.1 $ 15.9 $ 17.1 $ 14.3
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RATIO OF EARNINGS TO FIXED
CHARGES ...................................... 24.1 29.2 23.0 17.9 25.3