EXHIBIT (12) COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES YEAR ENDED DECEMBER 31, -------------------------------------------------------- NINE MONTHS ENDED 1995 1996 1997 1998 1999 SEPTEMBER 30, 2000 -------- -------- -------- -------- -------- ------------------ (In thousands, except ratio data) EARNINGS: Income from continuing operations before income taxes, minority interests and extraordinary items 224,591 399,326 629,196 267,373 229,915 408,531 Less: Minority interests 45,135 54,003 72,469 77,468 86,469 75,343 -------- -------- -------- -------- -------- ------- Income from continuing operations before income taxes and extraordinary items 179,456 345,323 556,727 189,905 143,446 333,188 ADJUSTMENTS: Non-recurring charges 73,102 78,905 15,875 587,313 448,605 -- Fixed charges 122,786 118,429 130,956 171,492 201,056 181,178 Capitalized interest expense (2,865) (3,943) (2,491) (630) (2,184) (1,177) -------- -------- -------- -------- -------- ------- Numerator -- earnings available for fixed charges 372,479 538,714 701,067 948,080 790,923 513,189 ======== ======== ======== ======== ======== ======= FIXED CHARGES: Interest expense 109,656 101,367 112,529 148,163 176,652 161,880 Capitalized interest expense 2,865 3,943 2,491 630 2,184 1,177 Interest component of rental expense 10,265 13,119 15,936 22,699 22,220 18,121 -------- -------- -------- -------- -------- ------- Denominator -- fixed charges 122,786 118,429 130,956 171,492 201,056 181,178 ======== ======== ======== ======== ======== ======= RATIO OF EARNINGS TO FIXED CHARGES 3.03 4.55 5.35 5.53 3.93 2.83 ======== ======== ======== ======== ======== =======