| Nine Months Ended September 30, | ||||||||
| 2008 | 2007 | |||||||
|
Earnings available to cover fixed charges:
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|
Income before income taxes
|
$ | 457 | $ | 482 | ||||
|
Plus: Fixed charges
|
175 | 151 | ||||||
|
Amortization of capitalized interest
|
16 | 13 | ||||||
|
Less: Capitalized interest
|
15 | 18 | ||||||
|
Earnings available to cover fixed charges
|
$ | 633 | $ | 628 | ||||
|
Fixed charges
(*):
|
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Interest, including amortization of deferred financing costs
|
$ | 152 | $ | 132 | ||||
|
Interest portion of rental payments
|
23 | 19 | ||||||
|
Total fixed charges
|
$ | 175 | $ | 151 | ||||
|
Ratio of earnings to fixed charges
|
3.62x | 4.16x | ||||||
| (*) | 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. |