Attached files
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
June 30, | Years Ended December 31, | |||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||||||||||
(In thousands) |
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Earnings from continuing operations before income taxes |
$ | 112,833 | $ | 185,340 | $ | 140,390 | $ | 418,199 | $ | 249,997 | $ | 222,063 | ||||||||||||
Add: |
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Interest on indebtedness |
16,587 | 36,545 | 35,347 | 47,011 | 33,311 | 29,227 | ||||||||||||||||||
Amortization of debt expense |
511 | 1,037 | 973 | 1,070 | 796 | 704 | ||||||||||||||||||
Portion of rents representative of the interest factor |
4,845 | 9,472 | 10,109 | 10,636 | 8,383 | 7,547 | ||||||||||||||||||
Deduct: |
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Undistributed earnings from less-than-50-percent-owned entities |
(168 | ) | (352 | ) | (132 | ) | (66 | ) | 427 | (61 | ) | |||||||||||||
Earnings (as defined) |
$ | 134,608 | $ | 232,042 | $ | 186,687 | $ | 476,850 | $ | 292,914 | $ | 259,480 | ||||||||||||
Fixed charges: |
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Interest on indebtedness |
$ | 16,587 | $ | 36,545 | $ | 35,347 | $ | 47,011 | $ | 33,311 | $ | 29,227 | ||||||||||||
Amortization of debt expense |
511 | 1,037 | 973 | 1,070 | 796 | 704 | ||||||||||||||||||
Portion of rents representative of the interest factor |
4,845 | 9,472 | 10,109 | 10,636 | 8,383 | 7,547 | ||||||||||||||||||
Total fixed charges |
$ | 21,943 | $ | 47,054 | $ | 46,429 | $ | 58,717 | $ | 42,490 | $ | 37,478 | ||||||||||||
Ratio of earnings to fixed charges |
6.1 | x | 4.9 | x | 4.0 | x | 8.1 | x | 6.9 | x | 6.9 | x | ||||||||||||