Three Months Ended March 31, | ||||||||
2007 | 2006 | |||||||
Earnings available to cover
fixed charges:
|
||||||||
Income before income taxes and
cumulative effect of accounting change
|
$ | 139 | $ | 150 | ||||
Plus: Fixed charges
|
47 | 29 | ||||||
Amortization
of capitalized interest
|
3 | 1 | ||||||
Less: Capitalized interest
|
6 | 2 | ||||||
Earnings available to cover fixed
charges
|
$ | 183 | $ | 178 | ||||
Fixed
charges(*):
|
||||||||
Interest, including amortization
of deferred financing costs
|
$ | 41 | $ | 24 | ||||
Interest portion of rental payments
|
6 | 5 | ||||||
Total fixed charges
|
$ | 47 | $ | 29 | ||||
Ratio of earnings to fixed charges
|
3.89x | 6.14x | ||||||
(*) | Consists of interest expense on all indebtedness (including amortization of deferred financing costs) and the portion of operating lease rental expense that is representative of the interest factor. |