EX-12 6 g82127exv12.htm EX-12 STATEMENT REGARDING COMPUTATION OF RATIOS EX-12 STATEMENT REGARDING COMPUTATION OF RATIOS
 

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)   (Restated)
Earnings:
                                       
 
Pretax Income
  $ 32,824     $ (9,093 )   $ 24,915     $ 36,748     $ 31,779  
 
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     $ 67,111     $ 53,982  
 
 
   
     
     
     
     
 
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             1.6x       2.1x       2.3x  

Note: For the year ended December 31, 2001, fixed charges exceeded earnings by approximately $9.6 million.