Exhibit 12.2

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

	Year Ended December 31
	2003			2002			2001			2000			1999
	(thousands, except ratios)
Interest costs	$	134,930		$	133,762		$	129,917		$	152,322		$	146,124
Interest capitalized during the period		391			3,937			1,945			1,458			238
Interest factor related to noncapitalized leases(a)		15,974			11,128			11,729			13,394			13,065
Total fixed charges		151,295			148,827			143,591			167,174			159,427
Preferred stock dividend requirements—pretax		13,864			14,548			15,180			16,019			17,129
Combined fixed charges and preferred dividend requirements	$	165,159		$	163,375		$	158,771		$	183,193		$	176,556
Income (loss) before income taxes, minority interest, and cumulative effect of accounting changes	$	19,297		$	(12,214	)	$	(48,558	)	$	298,331		$	355,940
Undistributed (earnings) losses of less than 50% owned entities, net of distributions received		(8,695	)		2,435			8,039			(2,061	)		(6,115	)
Total fixed charges		151,295			148,827			143,591			167,174			159,427
Less interest capitalized		(391	)		(3,937	)		(1,945	)		(1,458	)		(238	)
Total earnings before fixed charges	$	161,506		$	135,111		$	101,127		$	461,986		$	509,014
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	$	3,653		$	28,264		$	57,644		$	—		$	—

(a)

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