EX-12 5 y00880exv12.txt COMPUTATION OF EARNINGS TO FIXED CHARGES RATIO . . . EXHIBIT 12 Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
6 months Ended June 30, Year Ended December 31, --------------------------------------------------------- 2004 2003 2002 2001 2000 1999 -------- -------- -------- --------- -------- -------- Income (loss) before income taxes and cumulative effect of change in accounting principle, but after minority interest $327,831 $487,846 $259,184 ($148,207) $ 38,689 ($79,814) Add: Portion of rents representative of the interest factor 3129 6258 5862 6007 5527 5370 Interest expense 31525 54733 45475 45719 47596 50801 -------- -------- -------- --------- -------- -------- Income as adjusted $362,485 $548,837 $310,521 ($ 96,481) $ 91,812 ($23,643) ======== ======== ======== ========= ======== ======== Fixed charges: Interest expense $ 31,525 $ 54,733 $ 45,475 $ 45,719 $ 47,596 $ 50,801 Preferred dividends 0 0 0 0 0 497 Portion of rents representative of the interest factor 3129 6258 5862 6007 5527 5370 -------- -------- -------- --------- -------- -------- Total $ 34,654 $ 60,991 $ 51,337 $ 51,726 $ 53,123 $ 56,668 ======== ======== ======== ========= ======== ======== Ratio of Earnings to Fixed Charges 10.5 9.0 6.0 N/A 1.7 N/A ======== ======== ======== ========= ======== ======== Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends 10.5 9.0 6.0 N/A 1.7 N/A ======== ======== ======== ========= ======== ========