EX-12 2 ex12q123104.txt COMPUTATION OF RATIO OF EARNINGS Exhibit 12 Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
Quarter Ended (in thousands) Year Ended September 30, December 31 ----------------------------------------------------------------------- 2000 2001 2002 2003 2004 2004 ----------------------------------------------------------------------- Fixed Charges Computation Interest expensed and capitalized $ 3,603 $ 145 $ 417 $ 12,060 $ 13,857 $ 14,050 Amortized premiums, discounts, and capitalized expenses related to indebtedness 3,034 79 136 3,857 6,031 1,941 Reasonable approximation of interest within rental expense 26 20 72 1,139 1,462 541 ----------------------------------------------------------------------- Total Fixed Charges 6,663 244 625 17,056 21,350 16,532 Preferred equity dividends 378 113 - - - - ----------------------------------------------------------------------- Total Fixed Charges and Preferred Equity Dividends $ 7,041 $ 357 $ 625 $ 17,056 $ 21,350 $ 16,532 ======================================================================= Earnings Computation Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees $ 8,642 $ 14,468 $ 40,236 $ 60,081 $ 105,107 $ 20,008 Plus Fixed charges 7,041 357 625 17,056 21,350 16,532 Minus Interest capitalized - - - 230 435 127 ----------------------------------------------------------------------- Total Earnings $ 15,683 $ 14,825 $ 40,861 $ 76,907 $ 126,022 $ 36,413 ======================================================================= Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends 2.23 41.53 65.38 4.51 5.90 2.20