| Three months ended March 31, | ||||||
| 2002 |
2001 | |||||
| ( in thousands ) | ||||||
| EARNINGS AS DEFINED: |
||||||
| Earnings from operations before income taxes after eliminating undistributed earnings of 20%—to 50%-owned affiliates |
$ |
69,223 |
$ |
118,930 | ||
| Fixed charges excluding capitalized interest and preferred stock dividends of majority-owned subsidiary companies |
|
8,149 |
|
13,833 | ||
| |
|
|
| |||
| Earnings as defined |
$ |
77,372 |
$ |
132,763 | ||
| |
|
|
| |||
| FIXED CHARGES AS DEFINED: |
||||||
| Interest expense, including amortization of debt issue costs |
$ |
6,592 |
$ |
12,461 | ||
| Interest capitalized |
|
159 |
|
231 | ||
| Portion of rental expense representative of the interest factor |
|
1,557 |
|
1,372 | ||
| Preferred stock dividends of majority-owned subsidiary companies |
|
20 |
|
20 | ||
| |
|
|
| |||
| Fixed charges as defined |
$ |
8,328 |
$ |
14,084 | ||
| |
|
|
| |||
| RATIO OF EARNINGS TO FIXED CHARGES |
|
9.29 |
|
9.43 | ||
| |
|
|
| |||