EX-12 2 dex12.htm EXHIBIT 12 EXHIBIT 12

Exhibit 12

 

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(in thousands, except ratio amounts)

 

     Quarter Ended
September 30,
     Period Ended
September 30,
  
     2004
     2003
     2004
     2003
  

Net Income

    $ 10,797     $ 10,987     $ 33,181     $ 33,489  

Additions:

                                 

Fixed charges

                                 

Interest expense

      8,760       7,401       25,949       22,029  

Capitalized interest

      156       77       488       163  
    
 
 
 
       8,916       7,478       26,437       22,192  

Deductions:

                                 

Capitalized interest

      (156 )     (77 )     (488 )     (163 )
    
 
 
 

Adjusted earnings

    $ 19,557     $ 18,388     $ 59,130     $ 55,518  
    
 
 
 

Fixed Charges (from above)

    $ 8,916     $ 7,478     $ 26,437     $ 22,192  

Ratio of Earnings to Fixed Charges

      2.2x       2.5x       2.2x       2.5x