EX-12 8 wr021203.txt COMPUTATION OF RATIOS EXHIBIT 12 Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
Year Ended December 31, ----------------------------------------------------------- 2002 2001 2000 1999 1998 ---- ---- ---- ---- ---- Income (loss) before income taxes and cumulative effect of change in accounting principle, but after minority interest $ 259,184 ($148,207) $ 38,689 ($ 79,814) $ 64,225 Add: Portion of rents representative of the interest factor 5,290 6,007 5,527 5,370 4,698 Interest expense 45,475 45,719 47,596 50,801 48,819 --------- --------- --------- --------- --------- Income as adjusted $ 309,949 ($ 96,481) $ 91,812 ($ 23,643) $ 117,742 ========= ========= ========= ========= ========= Fixed charges: Interest expense $ 45,475 $ 45,719 $ 47,596 $ 50,801 $ 48,819 Preferred dividends 0 0 0 497 8,268 Portion of rents representative of the interest factor 5,862 6,007 5,527 5,370 4,698 --------- --------- --------- --------- --------- Total $ 51,337 $ 51,726 $ 53,123 $ 56,668 $ 61,785 ========= ========= ========= ========= ========= Ratio of Earnings to Fixed Charges 6.0 N/A 1.7 N/A 2.2 ========= ========= ========= ========= ========= Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends 6.0 N/A 1.7 N/A 1.9 ========= ========= ========= ========= =========