Exhibit 12
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings To Combined Fixed Charges
And Preferred Stock Dividend Requirements
(In Millions)
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
 
2013
 
2012
 
2011
 
2010
 
2009
Consolidated pretax income (loss) from
 
 
 
 
 
 
 
 
 
  continuing operations
$
489.3

 
$
(501.8
)
 
$
2,190.5

 
$
1,266.4

 
$
282.3

Undistributed earnings of non-consolidated affiliates
(74.4
)
 
(404.8
)
 
9.7

 
13.5

 
(65.5
)
Amortization of capitalized interest
2.3

 
3.7

 
3.6

 
3.6

 
3.0

Interest expense
184.3

 
203.1

 
216.5

 
70.1

 
39.0

Acceleration of debt issuance costs

 
0.2

 

 

 

Interest portion of rental expense
2.1

 
2.8

 
3.6

 
4.6

 
5.8

  Total Earnings
$
603.6

 
$
(696.8
)
 
$
2,423.9

 
$
1,358.2

 
$
264.6

Interest expense
$
184.3

 
$
203.1

 
$
216.5

 
$
70.1

 
$
39.0

Acceleration of debt issuance costs

 
0.2

 

 

 

Interest portion of rental expense
2.1

 
2.8

 
3.6

 
4.6

 
5.8

Preferred Stock dividend requirements
48.7

 

 

 

 

 
 
 
 
 
 
 
 
 
 
  Fixed Charges Requirements
$
235.1

 
$
206.1

 
$
220.1

 
$
74.7

 
$
44.8

 
 
 
 
 
 
 
 
 
 
  Fixed Charges and Preferred Stock Dividend
 
 
 
 
 
 
 
 
 
    Requirements
$
235.1

 
$
206.1

 
$
220.1

 
$
74.7

 
$
44.8

 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED
 
 
 
 
 
 
 
 
 
  CHARGES
2.6

 
*
 
11.0

 
18.2

 
5.9

 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO COMBINED
 
 
 
 
 
 
 
 
 
  FIXED CHARGES AND PREFERRED
 
 
 
 
 
 
 
 
 
  STOCK DIVIDEND REQUIREMENTS
2.6

 
*
 
11.0

 
18.2

 
5.9

 
 
 
 
 
 
 
 
 
 
(*) For the year ended December 31, 2012, there was a deficiency of earnings to cover the fixed charges of $902.9 million.