EX-12 2 ex12q063004.txt RATIO OF EARNINGS Exhibit 12 Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
Nine Months Ended (thousands of dollars) Year Ended September 30, June 30 ---------------------------------------------------------------------------- 1999 2000 2001 2002 2003 2004 ---------------------------------------------------------------------------- Fixed Charges Computation Interest expensed and capitalized $ 4,178 $ 3,603 $ 145 $ 417 $ 12,060 $ 5,180 Amortized premiums, discounts, and capitalized expenses related to indebtedness 2,075 3,034 79 136 3,857 7,798 Reasonable approximation of interest within rental expense 131 26 20 72 1,139 937 ---------------------------------------------------------------------------- Total Fixed Charges 6,384 6,663 244 625 17,056 13,915 Preferred equity dividends 466 378 113 - - - ---------------------------------------------------------------------------- Total Fixed Charges and Preferred Equity Dividends $ 6,850 $ 7,041 $ 357 $ 625 $ 17,056 $ 13,915 ============================================================================ Earnings Computation Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees $(28,402) $ 8,642 $ 14,468 $ 40,236 $ 60,081 $ 73,484 Plus Fixed charges 6,850 7,041 357 625 17,056 13,915 Minus Interest capitalized - - - - 230 345 ---------------------------------------------------------------------------- Total Earnings $(21,552) $ 15,683 $ 14,825 $ 40,861 $ 76,907 $ 87,054 ============================================================================ Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends N/A 2.23 41.53 65.38 4.51 6.26 Dollar amount of Deficiency $(28,402) N/A N/A N/A N/A N/A