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Year Ended December 31, |
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1999 |
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1998 |
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1997 |
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1996 |
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1995 |
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(Unaudited) |
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(In millions, except for ratios) |
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Fixed Charges: |
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Interest expense, including amortization of debt issuance costs |
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$ |
61.7 |
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$ |
44.8 |
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$ |
9.0 |
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$ |
0.3 |
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$ |
1.6 |
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Estimated interest portion of rents |
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12.0 |
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4.7 |
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3.2 |
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1.5 |
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0.1 |
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Capitalized interest |
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8.5 |
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3.8 |
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0.2 |
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— |
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— |
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Preferred stock dividend |
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— |
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— |
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12.0 |
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17.9 |
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13.6 |
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Gross-up of preferred stock dividend as if it were pre-tax |
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— |
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— |
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6.8 |
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10.1 |
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7.7 |
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Total fixed charges as defined |
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82.2 |
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53.3 |
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31.2 |
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29.8 |
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23.0 |
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Earnings: |
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Income from continuing operations before income tax expense |
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183.4 |
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5.6 |
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94.2 |
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98.3 |
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118.0 |
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Total fixed charges as defined |
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82.2 |
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53.2 |
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31.2 |
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29.8 |
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23.0 |
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Fixed charges not deducted in the determination of income from
continuing operations before income tax expense |
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|
(8.5 |
) |
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(3.8 |
) |
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(19.0 |
) |
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(28.0 |
) |
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(21.3 |
) |
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Total earnings as defined |
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$ |
257.1 |
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$ |
55.0 |
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$ |
106.4 |
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$ |
100.1 |
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$ |
119.7 |
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| |
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Ratio of Earnings to Fixed Charges |
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3.13 |
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1.03 |
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3.41 |
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3.36 |
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5.21 |
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|
