Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
| Three Months Ended 3/31/12 |
Years Ended December 31, | |||||||||||||||||||||||
| Amounts in millions, except ratios | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||
| Ratio of Earnings to Fixed Charges |
12.3 | x | 5.6 | x | 3.9 | x | 7.3 | x | 5.0 | x | 6.4 | x | ||||||||||||
| Earnings |
||||||||||||||||||||||||
| Income (loss) before taxes |
$ | 159.4 | $ | 243.5 | $ | 153.1 | $ | 317.0 | $ | 210.1 | $ | 267.9 | ||||||||||||
| Add: Fixed charges |
14.1 | 51.7 | 51.1 | 50.3 | 52.1 | 49.4 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Subtotal |
173.5 | 295.2 | 204.2 | 367.3 | 262.2 | 317.3 | ||||||||||||||||||
| Less: Capitalized interest |
(0.2 | ) | (7.1 | ) | (4.8 | ) | (0.9 | ) | (1.3 | ) | (1.0 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total |
$ | 173.3 | $ | 288.1 | $ | 199.4 | $ | 366.4 | $ | 260.9 | $ | 316.3 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Fixed charges |
||||||||||||||||||||||||
| Interest expense |
$ | 9.7 | $ | 29.2 | $ | 32.3 | $ | 35.6 | $ | 36.9 | $ | 35.1 | ||||||||||||
| Capitalized interest |
0.2 | 7.1 | 4.8 | 0.9 | 1.3 | 1.0 | ||||||||||||||||||
| Interest portion of rent expense (1) |
4.2 | 15.4 | 14.0 | 13.8 | 13.9 | 13.3 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Total |
$ | 14.1 | $ | 51.7 | $ | 51.1 | $ | 50.3 | $ | 52.1 | $ | 49.4 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ratio of Earnings to Fixed Charges |
12.3 | x | 5.6 | x | 3.9 | x | 7.3 | x | 5.0 | x | 6.4 | x | ||||||||||||
| (1) | The interest portion of rent expense represents the estimated interest component of such rental payments. |