EX-12.1 4 d642138dex121.htm EX-12.1

Exhibit 12.1

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(In millions, except ratio of earnings to fixed charges)

|  | Year Ended December 31, 2013 |  |  | Year Ended December 31, 2012 |  |  | Year Ended December 31, 2011 |  |  | Year Ended December 31, 2010 |  |  | Two Month Period Ended December 31, 2009 |  |  | Ten Month Period Ended November 7, 2009 |
Consolidated income (loss) before provision (benefit) for income taxes and equity in net (income) loss of affiliates |  | $ | 610.1 |  |  | $ | 648.9 |  |  | $ | 615.7 |  |  | $ | 448.8 |  |  | $ | (33.8 | ) |  | $ | (276.5 | )
Fixed charges |  |  | 107.5 |  |  |  | 86.2 |  |  |  | 72.8 |  |  |  | 82.1 |  |  |  | 15.3 |  |  |  | 177.5 |
Distributed income of affiliates |  |  | 17.6 |  |  |  | 14.0 |  |  |  | 43.6 |  |  |  | 7.4 |  |  |  | 0.6 |  |  |  | 4.7 |
Earnings |  | $ | 735.2 |  |  | $ | 749.1 |  |  | $ | 732.1 |  |  | $ | 538.3 |  |  | $ | (17.9 | ) |  | $ | (94.3 | )
Interest expense |  | $ | 68.4 |  |  | $ | 49.9 |  |  | $ | 39.7 |  |  | $ | 55.4 |  |  | $ | 11.1 |  |  | $ | 151.4 |
Portion of lease expense representative of interest |  |  | 39.1 |  |  |  | 36.3 |  |  |  | 33.1 |  |  |  | 26.7 |  |  |  | 4.2 |  |  |  | 26.1 |
Fixed charges |  | $ | 107.5 |  |  | $ | 86.2 |  |  | $ | 72.8 |  |  | $ | 82.1 |  |  | $ | 15.3 |  |  | $ | 177.5 |
Ratio of Earnings to Fixed Charges (1) |  |  | 6.8 |  |  |  | 8.7 |  |  |  | 10.1 |  |  |  | 6.6 |  |  |  | — |  |  |  | — |
Fixed Charges in Excess of Earnings |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 33.2 |  |  | $ | 271.8 |

(1) | Earnings in the two month period ended December 31, 2009, and in the ten month period ended November 7, 2009, were insufficient to cover fixed charges by $33.2 million and $271.8 million, respectively. Accordingly, such ratios are not presented.