EX-12 3 g81664exv12.txt EX-12 COMPUTATION OF RATIOS OF EARNINGS . . . EXHIBIT 12 RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges (Dollars in thousands, except ratio)
2002 2001 2000 1999 1998 ---- ---- ---- ---- ---- (Restated) (Restated) (Restated) Earnings: Pretax income $ 32,824 $ (9,093) $ 24,915 $ 37,664 $ 30,879 Interest 29,200 37,887 37,523 28,573 $ 20,506 Interest in leases 2,002 2,012 1,719 1,548 1,507 Amortization of capitalized interest 434 409 338 242 190 -------- -------- -------- -------- -------- $ 64,460 $ 31,215 $ 64,495 $ 68,027 $ 53,082 ======== ======== ======== ======== ======== Fixed charges: Interest $ 29,200 $ 37,887 $ 37,523 $ 28,573 $ 20,506 Capitalized interest 7 513 895 1,032 1,215 Interest in leases 2,002 2,012 1,719 1,548 1,507 Amortization of capitalized interest 434 409 338 242 190 -------- -------- -------- -------- -------- $ 31,643 $ 40,821 $ 40,475 $ 31,395 $ 23,418 ======== ======== ======== ======== ======== Ratio: 2.0x -x 1.6x 2.2x 2.3x
Note: Fixed charges for 2001 exceeded earnings by $9.6 million.