EX-12 5 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

 

Computation of Ratio of Earnings to Fixed Charges

(In thousands)

 

     Twelve Months Ended December 31,

 
     2005

    2004

   2003

    2002

    2001

 
                            (Unaudited)  

Earnings:

                                       

Income from continuing operations before income taxes

   $ 654,684     $ 82,563    $ (33,507 )   $ (40,423 )   $ 183,370  

Fixed charges, as shown below

     42,979       49,349      47,845       55,640       50,889  

Equity in income of investees

     (2,850 )     4,317      8,851       9,818       (11,249 )

Minority Interest—Gas

     (9,484 )     —        —         —         —    
    


 

  


 


 


Adjusted Earnings (Loss)

   $ 685,329     $ 136,229    $ 23,189     $ 25,035     $ 223,010  
    


 

  


 


 


Fixed charges:

                                       

Interest on indebtedness, expensed or capitalized

   $ 31,903     $ 40,180    $ 41,212     $ 51,495     $ 46,293  

Interest within rent expense

     11,076       9,169      6,633       4,145       4,596  
    


 

  


 


 


Total Fixed Charges

   $ 42,979     $ 49,349    $ 47,845     $ 55,640     $ 50,889  
    


 

  


 


 


Ratio of Earnings to Fixed Charges

     15.95       2.76      —         —         4.38  
    


 

  


 


 



(1) The deficiency of earnings to cover fixed charges was $24,656 for the year period ended December 31, 2003.
(2) The deficiency of earnings to cover fixed charges was $30,605 for the year period ended December 31, 2002.