Attached files
EXHIBIT 12.1 | ||||||||||||||||||||
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||
(dollars in millions, except ratio information) | ||||||||||||||||||||
Fiscal Years Ended December 31, | ||||||||||||||||||||
2010 | 2011 | 2012 | 2013 | 2014 | ||||||||||||||||
Income from continuing operations before income tax | $ | 915.6 | $ | 866.1 | $ | 944.2 | $ | 915.6 | $ | 826.7 | ||||||||||
Equity in the income of investees | (11.7 | ) | (10.4 | ) | (21.4 | ) | (18.6 | ) | (14.6 | ) | ||||||||||
Cash distributions received from equity investees | 18.0 | 11.8 | 21.0 | 14.4 | 8.8 | |||||||||||||||
921.9 | 867.5 | 943.8 | 911.4 | 820.9 | ||||||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest on long-term and | ||||||||||||||||||||
short-term debt including | ||||||||||||||||||||
amortization of debt expense | 70.0 | 87.5 | 94.5 | 96.5 | 109.5 | |||||||||||||||
Portion of rental expense as can be | ||||||||||||||||||||
demonstrated to be representative | ||||||||||||||||||||
of the interest factor | 67.4 | 73.4 | 75.3 | 78.6 | 79.7 | |||||||||||||||
Total fixed charges | 137.4 | 160.9 | 169.8 | 175.1 | 189.2 | |||||||||||||||
Earnings before income taxes and | ||||||||||||||||||||
fixed charges | $ | 1,059.3 | $ | 1,028.4 | $ | 1,113.6 | $ | 1,086.5 | $ | 1,010.1 | ||||||||||
Ratio of earnings to fixed charges | 7.71 | 6.39 | 6.56 | 6.21 | 5.34 | |||||||||||||||