| Six months ended | ||||||||||||||||||||||||
| June 30, | Year ended December 31, | |||||||||||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||||||
| (dollars in thousands) | ||||||||||||||||||||||||
Earnings: |
||||||||||||||||||||||||
Income before
minority interest
and income taxes |
$ | 218,143 | $ | 384,898 | $ | 413,871 | $ | 269,543 | $ | 255,498 | $ | 209,416 | ||||||||||||
Fixed charges |
26,262 | 27,173 | 10,772 | 7,867 | 5,074 | 3,667 | ||||||||||||||||||
Total earnings |
$ | 244,405 | $ | 412,071 | $ | 424,643 | $ | 277,410 | $ | 260,572 | $ | 213,083 | ||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Estimate of
interest within
rental expense (1) |
$ | 5,184 | $ | 9,907 | $ | 8,667 | $ | 7,867 | $ | 4,867 | $ | 3,667 | ||||||||||||
Interest expense |
20,403 | 16,362 | 1,819 | — | 207 | — | ||||||||||||||||||
Amortization of
capitalized
expenses |
675 | 904 | 286 | — | — | — | ||||||||||||||||||
Total fixed charges |
$ | 26,262 | $ | 27,173 | $ | 10,772 | $ | 7,867 | $ | 5,074 | $ | 3,667 | ||||||||||||
Ratio of Earnings
to Fixed Charges |
9.31 | x | 15.16 | x | 39.42 | x | 35.26 | x | 51.35 | x | 58.11 | x | ||||||||||||
| (1) | Interest expense was estimated by using one-third of total rental payments. |