EX-12 3 y61422exv12.txt STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS EXHIBIT 12 RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIO DATA)
Twelve Months Quarter Ended Years Ended December 31, Ended March 31, March 31, ----------------------------------------------------- --------------- ------------------- 1997 1998 1999 2000 2001 2002 2001 2002 -------- -------- -------- -------- -------- -------- -------- -------- Earnings: Income before taxes and minority interests ..................... $ 7,676 $ 11,604 $ 17,380 $ 13,539 $ 18,793 $ 22,602 $ 6,397 $ 10,206 Add: fixed charges ............... 6,512 26,313 29,998 29,847 28,355 27,191 7,502 6,338 Deduct: interest capitalized ..... (223) (981) (803) (178) -------- -------- -------- -------- -------- -------- -------- -------- Earnings, as adjusted ............ $ 14,188 $ 37,917 $ 47,378 $ 43,163 $ 46,167 $ 48,990 $ 13,721 $ 16,544 ======== ======== ======== ======== ======== ======== ======== ======== Computation of fixed charges: Interest, expensed and capitalized $ 4,231 $ 23,779 $ 26,985 $ 26,834 $ 25,205 $ 23,952 $ 6,781 $ 5,528 Interest portion of rent expense . 2,281 2,534 3,013 3,013 3,150 3,239 721 810 -------- -------- -------- -------- -------- -------- -------- -------- Total fixed charges .............. $ 6,512 $ 26,313 $ 29,998 $ 29,847 $ 28,355 $ 27,191 $ 7,502 $ 6,338 ======== ======== ======== ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 2.2x 1.4x 1.6x 1.4x 1.6x 1.8x 1.8x 2.6x