<PAGE>


EXHIBIT 12 - RATIO OF EARNINGS TO FIXED CHARGES
Years ended December 31, 1995, 1996, 1997, 1998 and 1999 and
  six months ended July 2, 2000
(IN MILLIONS, EXCEPT RATIOS)

<TABLE>
<CAPTION>

                                                                                                            SIX
                                                                                                           MONTHS
                                                                                                            ENDED
                                                              YEAR ENDED DECEMBER 31,                       JULY 2,
                                               1995         1996        1997        1998         1999        2000
                                            ------------ ----------- ----------- ------------ ----------- -----------
<S>                                           <C>          <C>         <C>           <C>         <C>          <C>
Earnings/(loss):
   Earnings/(loss) before income tax
     expense/(benefit) per consolidated
     statement of earnings                    $(201.4)     $  31.2     $(191.9)      $(38.9)     $ 13.4       $38.9

Add:
   Interest expense                              52.1         47.4        47.8         57.6        77.4        41.2
   Portion of rent representative of an
     interest factor                             11.7          9.3        10.7         10.5        10.2         5.1
                                            ------------ ----------- ----------- ------------ ----------- -----------

Adjusted earnings/(loss) before income
   tax benefit/ (expense)                     $(137.6)     $  87.9     $(133.4)      $ 29.2      $101.0       $85.2
                                            ============ =========== =========== ============ =========== ===========

Fixed charges:
   Interest expense                           $  52.1      $  47.4     $  47.8       $ 57.6      $ 77.4       $41.2
   Portion of rent representative of an
     interest factor                             11.7          9.3        10.7         10.5        10.2         5.1
   Capitalized interest                           4.8          5.1         2.6          2.2         3.0         1.2
                                            ------------ ----------- ----------- ------------ ----------- -----------

Total fixed charges                           $  68.6      $  61.8     $  61.1       $ 70.3      $ 90.6       $47.5
                                            ============ =========== =========== ============ =========== ===========

Ratio of earnings to fixed charges              N/A(a)       1.4(b)      N/A(c)        .4(d)        1.1         1.8
                                            ============ =========== =========== ============ =========== ===========

</TABLE>

(a)  Earnings were insufficient to cover fixed charges by $206.2 million after
     giving effect to the pre-tax expense for restructuring and other charges of
     $247.0 million. Excluding the pre-tax restructuring and other charges, the
     ratio of earnings to fixed charges was 1.6.

(b)  In 1996, the Company recorded a pre-tax expense for restructuring and other
     special charges of $150.0 million ($7.0 million of which was recorded in
     cost of goods sold). Excluding the pre-tax restructuring and other special
     charges, the ratio of earnings to fixed charges was 3.8.

(c)  Earnings were insufficient to cover fixed charges by $194.5 million after
     giving effect to the pre-tax expense for restructuring and other charges of
     $340.0 million ($16.5 million was recorded in cost of goods sold).
     Excluding the pre-tax restructuring and other charges, the ratio of
     earnings to fixed charges was 3.4.

(d)  Earnings were insufficient to cover fixed charges by $41.1 million after
     giving effect to the pre-tax expense for restructuring and other charges of
     $50.0 million. Excluding the pre-tax restructuring and other charges, the
     ratio of earnings to fixed charges was 1.1.




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