| 2004 | 2005 | 2006 | 2007 | 2008 | ||||||||||||||||
Earnings: |
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Earnings before income taxes and
minority interest |
$ | 308.6 | $ | 314.2 | $ | 270.3 | $ | 430.4 | $ | 14.0 | ||||||||||
Income in equity investees |
(29.2 | ) | (28.2 | ) | (35.9 | ) | (40.3 | ) | (38.4 | ) | ||||||||||
Fixed charges |
40.0 | 51.3 | 56.2 | 54.2 | 62.6 | |||||||||||||||
Capitalized interest amortization
expense |
2.9 | 3.0 | 3.9 | 4.9 | 5.8 | |||||||||||||||
Distributed income of equity investees |
23.9 | 12.9 | 44.2 | 18.2 | 40.6 | |||||||||||||||
Less: Capitalized interest |
(4.3 | ) | (6.9 | ) | (8.5 | ) | (9.6 | ) | (13.3 | ) | ||||||||||
Total earnings |
$ | 341.9 | $ | 346.3 | $ | 330.2 | $ | 457.8 | $ | 71.3 | ||||||||||
Fixed Charges: |
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Interest expense |
$ | 29.7 | $ | 37.1 | $ | 40.2 | $ | 34.7 | $ | 38.8 | ||||||||||
Capitalized interest |
4.3 | 6.9 | 8.5 | 9.6 | 13.3 | |||||||||||||||
Rent expense |
18.0 | 21.9 | 22.4 | 29.8 | 31.5 | |||||||||||||||
1/3 of rent expense |
6.0 | 7.3 | 7.5 | 9.9 | 10.5 | |||||||||||||||
Total fixed charges |
$ | 40.0 | $ | 51.3 | $ | 56.2 | $ | 54.2 | $ | 62.6 | ||||||||||
Ratio of earnings to fixed charges |
8.55 | x | 6.75 | x | 5.88 | x | 8.45 | x | 1.14 | x | ||||||||||