| Six Months Ended June 30, | ||||||||
| 2008 | 2007 | |||||||
|
Earnings available to cover fixed charges:
|
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|
Income before income taxes
|
$ | 229 | $ | 293 | ||||
|
Plus: Fixed charges
|
112 | 95 | ||||||
|
Amortization of capitalized interest
|
11 | 6 | ||||||
|
Less: Capitalized interest
|
10 | 12 | ||||||
|
Earnings available to cover fixed charges
|
$ | 342 | $ | 382 | ||||
|
Fixed charges
(*):
|
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|
Interest, including amortization of deferred financing costs
|
$ | 97 | $ | 83 | ||||
|
Interest portion of rental payments
|
15 | 12 | ||||||
|
Total fixed charges
|
$ | 112 | $ | 95 | ||||
|
Ratio of earnings to fixed charges
|
3.05x | 4.02x | ||||||
| (*) | Consists of interest expense on all indebtedness (including amortization of deferred financing costs) and the portion of operating lease rental expense that is representative of the interest factor. |