Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
($’s in millions except Ratio of Earnings to Fixed Charges)
| Year Ended December 31, | ||||||||||||||||||||
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||||
| Income Before Provision for Income Taxes |
348.6 | 396.0 | 378.3 | 368.1 | 387.9 | |||||||||||||||
| Add Back: Fixed Charges |
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| Interest Expense |
43.3 | 40.7 | 39.5 | 37.0 | 46.0 | |||||||||||||||
| Interest Component of Rental Expense1 |
9.6 | 10.0 | 9.9 | 10.3 | 9.5 | |||||||||||||||
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| Earnings as Adjusted |
401.5 | 446.7 | 427.7 | 415.4 | 443.4 | |||||||||||||||
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| Fixed Charges: |
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| Interest Expense |
43.3 | 40.7 | 39.5 | 37.0 | 46.0 | |||||||||||||||
| Interest Component of Rental Expense |
9.6 | 10.0 | 9.9 | 10.3 | 9.5 | |||||||||||||||
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| Total Fixed Charges |
52.9 | 50.7 | 49.4 | 47.3 | 55.5 | |||||||||||||||
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| Ratio of Earnings to Fixed Charges |
7.6 | 8.8 | 8.7 | 8.8 | 8.0 | |||||||||||||||
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| 1 | Represents a reasonable approximation of the interest cost component of rental expense incurred by the Company. The purpose is to estimate the amount of interest paid due to operating the majority of our facilities under operating leases. |