Nine Months Ended September 30,
1999 1998
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(Thousands, except ratio amounts)
Pretax income from continuing operations ....................... $ 234,799 $ 437,119
Undistributed income of less than 50% owned equity investees ... (1,337) (5,814)
Minority interest in income of majority owned subsidiaries
with fixed charges ............................................ 257 320
Add fixed charges as adjusted (from below) ..................... 201,360 146,651
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$ 435,079 $ 578,276
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Fixed charges:
Interest expense:
Corporate ............................................ $ 173,359 $ 126,386
Financial service .................................... 8,689 7,372
Capitalized .......................................... 1,250 2,431
Amortization of debt costs .................................... 254 (396)
1/3 of rental expense ......................................... 19,058 13,289
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Fixed charges .................................................. 202,610 149,082
Less: Capitalized interest ................................... (1,250) (2,431)
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Fixed charges as adjusted ...................................... $ 201,360 $ 146,651
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Ratio (earnings divided by fixed charges) ...................... 2.15 3.88
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