EX-12 4 dex12.txt RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12 Ratio of Earnings to Fixed Charges
(In thousands except ratios) Six Months Ending 30-June-01 ---------- Earnings available for fixed charges: Earnings (loss) before income taxes $ 33,580 Less: Equity earnings of minority-owned companies 3,225 Add: Dividends received from investees under the equity method 0 Add: Minority interest expense in majority-owned subsidiaries 143 Add: Fixed charges before capitalized interest 45,234 Add: Amortization of capitalized interest 3,872 -------- Total earnings available for fixed charges $ 86,054 ======== Fixed charges: Interest expense $ 36,300 Interest portion of rental expense 8,826 Amortization of discount related to indebtedness 108 -------- Total fixed charges before capitalized interest 45,324 Capitalized interest 1,200 -------- Total fixed charges $ 46,434 ======== Ratio of earnings to fixed charges 1.85 ========