EX-12 3 j3299_ex12.htm EX-12 EXHIBIT 12

EXHIBIT 12

 

Calculation of Earnings (Deficiency) to Fixed Charges

 

 

 

Year Ended
December 31, 2001

 

March 15, 2000
(inception)
through
December 31, 2000

 

 

 

 

 

(in thousands)

 

Earnings

 

$

(2,005

)

$

(948

)

Income from Continuing operations before income taxes

 

—

 

—

 

Adjustment for undistributed income

 

—

 

—

 

Distributions from affiliates

 

—

 

—

 

 

 

 

 

 

 

Fixed Charges

 

34,665

 

28,211

 

Depreciation of previously capitalized interest

 

—

 

—

 

Interest Capitalized

 

(30,258

)

(24,966

)

Earnings

 

$

2,402

 

$

2,297

 

 

 

 

 

 

 

Fixed Charges

 

 

 

 

 

Interest expense and capitalized amounts (including construction related fixed charges)

 

33,849

 

27,565

 

Net amortization of issuance costs (including capitalized amounts)

 

816

 

646

 

Fixed charges

 

$

34,665

 

$

28,211

 

 

 

 

 

 

 

Deficiency of earnings to fixed charges

 

$

(32,263

)

$

(25,914

)