EX-12.1 7 bky1047593.txt STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS Exhibit 12.1 ------------ Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends (dollars in thousands)
Three Months Year Ended Ended December 31, March 31, --------------------------------------------------------------- 2002 2001 2000 1999 1998 1997 ------------ --------- --------- -------- -------- --------- Income (loss) before income taxes, cumulative effect of change in accounting principle and extraordinary gain (loss), but after minority interest........... $ 50,618 ($148,207) $ 38,689 ($79,814) $ 64,225 $ 129,715 Add: Portion of rents representative of the interest factor............... 1,502 6,007 5,527 5,370 4,698 4,188 Interest expense.................... 11,135 45,719 47,596 50,801 48,819 48,869 -------- --------- --------- -------- -------- --------- Income (loss) as adjusted................ $ 63,255 ($ 96,481) $ 91,812 ($23,643) $117,742 $ 182,772 ======== ========= ========= ======== ======== ========= Fixed charges and preferred dividends: Interest expense.................... $ 11,135 $ 45,719 $ 47,596 $ 50,801 $ 48,819 $ 48,869 Preferred dividends................. 0 0 0 497 8,268 10,266 Portion of rents representative of the interest factor............... 1,502 6,007 5,527 5,370 4,698 4,188 -------- --------- --------- ---------- -------- --------- Total............................. $ 12,637 $ 51,726 $ 53,123 $ 56,668 $ 61,785 $ 63,323 ======== ========= ========= ======== ======== ========= Ratio of Earnings to Fixed Charges....... 5.0 N/A 1.7 N/A 2.2 3.4 ======== ========= ========= ======== ======== ========= Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends. 5.0 N/A 1.7 N/A 1.9 2.9 ======== ========= ========= ======== ======== =========