| Year Ended December 31, | Six Months Ended | |||||||||||||||||||||||||||||||
| 2005 | 2006 | 2007 | 2008 | 2009 | 6/30/2009 | 6/30/2010 | ||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes |
$ | 857,155 | $ | 1,353,277 | $ | 1,031,754 | $ | 685,811 | $ | (235,116 | ) | $ | (50,711 | ) | $ | 100,306 | ||||||||||||||||
Less earnings (losses) from affiliates, net of dividends |
(2,600 | ) | (18,111 | ) | (5,136 | ) | 236,763 | 229,813 | 81,053 | (10,379 | ) | |||||||||||||||||||||
Add amortization of capitalized interest |
1,267 | 2,836 | 5,129 | 7,100 | 5,312 | 2,241 | 3,042 | |||||||||||||||||||||||||
Add fixed charges as adjusted (from below) |
47,786 | 123,652 | 158,803 | 201,128 | 268,771 | 135,075 | 133,811 | |||||||||||||||||||||||||
Earnings |
(1 | ) | $ | 903,608 | $ | 1,461,654 | $ | 1,190,550 | $ | 1,130,802 | $ | 268,780 | $ | 167,658 | $ | 226,780 | ||||||||||||||||
Fixed charges: |
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Interest expense: |
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Interest on indebtedness |
$ | 19,086 | $ | 110,464 | $ | 144,556 | $ | 187,234 | $ | 172,012 | $ | 83,877 | $ | 92,649 | ||||||||||||||||||
Capitalized |
4,173 | 17,810 | 34,564 | 29,769 | 29,912 | 17,459 | 6,008 | |||||||||||||||||||||||||
Amortization of debt related costs (a) |
25,763 | 10,043 | 10,364 | 9,484 | 92,936 | 49,228 | 39,322 | |||||||||||||||||||||||||
Interest portion of rental expense |
2,937 | 3,145 | 3,883 | 4,410 | 3,823 | 1,970 | 1,840 | |||||||||||||||||||||||||
Fixed charges before adjustments |
(2 | ) | 51,959 | 141,462 | 193,367 | 230,897 | 298,683 | 152,534 | 139,819 | |||||||||||||||||||||||
Less capitalized interest |
(4,173 | ) | (17,810 | ) | (34,564 | ) | (29,769 | ) | (29,912 | ) | (17,459 | ) | (6,008 | ) | ||||||||||||||||||
Fixed charges as adjusted |
$ | 47,786 | $ | 123,652 | $ | 158,803 | $ | 201,128 | $ | 268,771 | $ | 135,075 | $ | 133,811 | ||||||||||||||||||
Ratio (earnings divided by fixed charges
before adjustments) |
(1)/ | (2) | 17.39 | 10.33 | 6.16 | 4.90 | 0.90 | 1.10 | 1.62 | |||||||||||||||||||||||
| (a) | Includes deferred financing, discount and premium amortization. |