EXHIBIT (12)
RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended
Year Ended December 31, September 30,
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1996 1997 1998 1999 2000 2000 2001
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EARNINGS:
Income from continuing operations
before income taxes and minority
interests $ 399,326 $ 629,196 $ 267,373 $ 229,915 $ 559,354 $ 408,530 $ 299,349
ADJUSTMENTS:
Fixed charges 151,343 170,936 228,439 256,801 306,248 218,864 229,070
Capitalized interest (3,943) (2,491) (630) (2,184) (1,726) 1,177 --
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Numerator - earnings available for
fixed charges $ 546,726 $ 797,641 $ 495,182 $ 484,532 $ 863,876 $ 628,571 $ 528,419
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FIXED CHARGES:
Interest expense 101,367 112,529 148,163 176,652 221,595 161,880 165,581
Capitalized interest expense 3,943 2,491 630 2,184 1,726 (1,177) --
Interest component of rental expense 46,033 55,916 79,646 77,965 82,927 58,161 63,489
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Denominator - fixed charges $ 151,343 $ 170,936 $ 228,439 $ 256,801 $ 306,248 $ 218,864 $ 229,070
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RATIO OF EARNINGS TO FIXED CHARGES 3.6 4.7 2.2 1.9 2.8 2.9 2.3