EX-12 7 exhibit12.htm EXHIBIT 12
Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)
(Dollar Amounts In Thousands)

       2001    2000    1999    1998    1997  
 
EARNINGS  
Pre-tax income (loss)   $ (4,416 ) $ 123   $ 40,092   $ 55,069   $ 25,153  
Fixed charges    7,832    13,024    13,109    15,865    16,683  
Total (a)   $ 3,416   $ 13,147   $ 53,201   $ 70,934   $ 41,836  
 
FIXED CHARGES  
Interest expense and amortization of  
   debt discount and premium on all  
   indebtedness   $ 6,541   $ 11,889   $ 12,221   $ 15,009   $ 15,768  
Interest portion of rental expense    1,291    1,135    888    856    915  
Total fixed charges (b)   $ 7,832   $ 13,024   $ 13,109   $ 15,865   $ 16,683  
 
Ratio of earnings to fixed  
charges (a)/(b)    (2 )  1.0x    4.1x    4.5x    2.5x  

(1)  

For purposes of determining this ratio, pre-tax income (loss) consists of income (loss) before income taxes, cumulative effect of accounting change (1999) and extraordinary loss (1997), plus fixed charges. Fixed charges include interest expense and the interest portion of rent expense.

(2)  

Earnings were insufficient to cover fixed charges by $4.4 million in 2001.