| Three Months Ended March 31, | ||||||||
| 2008 | 2007 | |||||||
|
Earnings available to cover fixed charges:
|
||||||||
|
Income before income taxes
|
$ | 70 | $ | 139 | ||||
|
Plus: Fixed charges
|
60 | 47 | ||||||
|
Amortization
of capitalized interest
|
5 | 3 | ||||||
|
Less: Capitalized interest
|
4 | 6 | ||||||
|
Earnings available to cover fixed charges
|
$ | 131 | $ | 183 | ||||
|
Fixed
charges (*):
|
||||||||
|
Interest, including amortization of deferred financing costs
|
$ | 52 | $ | 41 | ||||
|
Interest portion of rental payments
|
8 | 6 | ||||||
|
Total fixed charges
|
$ | 60 | $ | 47 | ||||
|
Ratio of earnings to fixed charges
|
2.18x | 3.89x | ||||||
|
(*)
|
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. |
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