Attached files
Exhibit 12
COMPUTATION
OF RATIO OF EARNINGS TO FIXED CHARGES
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Nine Months |
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Ended |
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September 30, |
Years Ended December 31, | |||||||||||||||||||||||
| 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
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(In thousands)
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Earnings from continuing operations before income taxes
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$ | 186,854 | $ | 185,340 | $ | 140,390 | $ | 418,199 | $ | 249,997 | $ | 222,063 | ||||||||||||
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Add:
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Interest on indebtedness
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25,512 | 36,545 | 35,347 | 47,011 | 33,311 | 29,227 | ||||||||||||||||||
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Amortization of debt expense
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770 | 1,037 | 973 | 1,070 | 796 | 704 | ||||||||||||||||||
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Portion of rents representative of the interest factor
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7,450 | 9,472 | 10,109 | 10,636 | 8,383 | 7,547 | ||||||||||||||||||
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Deduct:
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Undistributed earnings from less-than-50-percent-owned entities
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(187 | ) | (352 | ) | (132 | ) | (66 | ) | 427 | (61 | ) | |||||||||||||
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Earnings (as defined)
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$ | 220,399 | $ | 232,042 | $ | 186,687 | $ | 476,850 | $ | 292,914 | $ | 259,480 | ||||||||||||
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Fixed charges:
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Interest on indebtedness
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$ | 25,512 | $ | 36,545 | $ | 35,347 | $ | 47,011 | $ | 33,311 | $ | 29,227 | ||||||||||||
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Amortization of debt expense
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770 | 1,037 | 973 | 1,070 | 796 | 704 | ||||||||||||||||||
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Portion of rents representative of the interest factor
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7,450 | 9,472 | 10,109 | 10,636 | 8,383 | 7,547 | ||||||||||||||||||
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Total fixed charges
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$ | 33,732 | $ | 47,054 | $ | 46,429 | $ | 58,717 | $ | 42,490 | $ | 37,478 | ||||||||||||
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Ratio of earnings to fixed charges
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6.5 | x | 4.9 | x | 4.0 | x | 8.1 | x | 6.9 | x | 6.9 | x | ||||||||||||