| RATIO OF EARNINGS TO FIXED CHARGES | EXHIBIT 12
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| ( in thousands ) | Three months ended | Nine months ended | ||||||||||
| September 30, | September 30, | |||||||||||
| 2001 | 2000 | 2001 | 2000 | |||||||||
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| EARNINGS AS DEFINED: | ||||||||||||
| Earnings from operations before income taxes after | ||||||||||||
| eliminating undistributed earnings of 20%- to | ||||||||||||
| 50%-owned affiliates | $ | 39,817 | $ | 61,744 | $ | 241,151 | $ | 203,161 | ||||
| Fixed charges excluding capitalized interest and | ||||||||||||
| preferred stock dividends of majority-owned | ||||||||||||
| subsidiary companies | 9,900 | 14,935 | 35,935 | 44,438 | ||||||||
| Earnings as defined | $ | 49,717 | $ | 76,679 | $ | 277,086 | $ | 247,599 | ||||
| FIXED CHARGES AS DEFINED: | ||||||||||||
| Interest expense, including amortization of | ||||||||||||
| debt issue costs | $ | 8,417 | $ | 13,393 | $ | 31,737 | $ | 39,510 | ||||
| Interest capitalized | 179 | 17 | 591 | 47 | ||||||||
| Portion of rental expense representative | ||||||||||||
| of the interest factor | 1,483 | 1,542 | 4,198 | 4,928 | ||||||||
| Preferred stock dividends of majority-owned | ||||||||||||
| subsidiary companies | 20 | 20 | 60 | 60 | ||||||||
| Fixed charges as defined | $ | 10,099 | $ | 14,972 | $ | 36,586 | $ | 44,545 | ||||
| RATIO OF EARNINGS TO FIXED CHARGES | 4.92 | 5.12 | 7.57 | 5.56 | ||||||||
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