|
|
|
|
|
|
|
|
|
<PAGE>
EXHIBIT 12.1 STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED
CHARGES
<TABLE>
<CAPTION>
Nine Months Ended Year Ended December 31
September 30
2000 1999 1998 1997 1996 1995
(in millions, except ratios)
-----------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Earnings
Income (Loss) Before Income Taxes $634.5 $(165.5) $ 920.2 $ 916.7 $567.8 $557.9
Fixed Charges 147.9 155.2 138.3 101.1 71.9 73.1
------ ------- -------- -------- ------ ------
Adjusted Earnings $782.4 $ (10.3) $1,058.5 $1,017.8 $639.7 $631.0
====== ======= ======== ======== ====== ======
Fixed Charges
Interest and Debt Expense $136.2 $ 137.8 $ 119.9 $ 84.9 $ 58.5 $ 59.5
Amortization of Deferred Debt Costs 1.8 2.4 3.3 0.7 - 0.7
Portion of Rents Deemed
Representative of Interest (a) 9.9 15.0 15.1 15.5 13.4 12.9
------ ------- -------- -------- ------ ------
Total Fixed Charges $147.9 $ 155.2 $ 138.3 $ 101.1 $ 71.9 $ 73.1
====== ======= ======== ======== ====== ======
Ratio of Earnings to Fixed Charges 5.3 (0.1) 7.7 10.1 8.9 8.6
</TABLE>
(a) Generally deemed to be one-third of rental expense.
1
|
|