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Exhibit 12.2

BOISE CASCADE CORPORATION AND SUBSIDIARIES
Ratio of Earnings to Combined Fixed Charges
and Preferred Dividend Requirements

	Year Ended December 31
	2002			2001			2000			1999			1998
	(thousands, except ratios)
Interest costs	$	120,543		$	128,970		$	152,322		$	146,124		$	159,870
Interest capitalized during the period		3,937			1,945			1,458			238			1,341
Interest factor related to noncapitalized leases (a)		11,128			11,729			13,394			13,065			11,308
Adjustable conversion-rate equity security unit distributions		13,219			947			—			—			—
Total fixed charges		148,827			143,591			167,174			159,427			172,519
Preferred stock dividend requirements — pretax		14,548			15,180			16,019			17,129			19,940
Combined fixed charges and preferred dividend requirements	$	163,375		$	158,771		$	183,193		$	176,556		$	192,459
Income (loss) before income taxes, minority interest, and cumulative effect of accounting change	$	1,005		$	(47,611	)	$	298,331		$	355,940		$	(16,878	)
Undistributed (earnings) losses of less than 50% owned entities, net of distributions received		2,435			8,039			(2,061	)		(6,115	)		3,791
Total fixed charges		148,827			143,591			167,174			159,427			172,519
Less interest capitalized		(3,937	)		(1,945	)		(1,458	)		(238	)		(1,341	)
Total earnings before fixed charges	$	148,330		$	102,074		$	461,986		$	509,014		$	158,091
Ratio of earnings to combined fixed charges and preferred dividend requirements		—			—			2.52			2.88			—
Excess of combined fixed charges and preferred dividend requirements over total earnings before fixed charges	$	15,045		$	56,697		$	—		$	—		$	34,368

(a)

Interest expense for operating leases with terms of one year or longer is based on an imputed interest rate for each lease.

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Exhibit 12.2