EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In thousands, except for ratio data)
Six months ended Year ended December 31, June 30, ----------------------------------------------------- -------------------- 1998 1999 2000 2001 2002 2002 2003 --------- --------- --------- --------- --------- --------- --------- Income before income taxes $ 193,684 $ 233,685 $ 300,035 $ 347,028 $ 436,290 $ 215,996 $ 250,206 Add fixed charges: Gross interest expense 21,330 25,111 28,823 20,159 17,758 8,898 10,074 Amortization of debt discount - - - - - - 5 Estimated interest component of rental expense (1) 24,033 26,180 27,664 28,990 33,200 15,777 17,178 ----------------------------------------------------- -------------------- Total fixed charges 45,363 51,291 56,487 49,149 50,958 24,675 27,257 Total adjusted earnings $ 239,047 $ 284,976 $ 356,522 $ 396,177 $ 487,248 $ 240,671 $ 277,463 ----------------------------------------------------- -------------------- Ratio of earnings to fixed charges 5.27 5.56 6.31 8.06 9.56 9.75 10.18 ----------------------------------------------------- --------------------
(1) Interest component estimated to be 1/3 of rental expense.