EX-12 3 exhibit12edgar.htm EXHIBIT 12 TO POST EFFECTIVE AMENDMENT Converted by EDGARwiz


Exhibit 12




RATIO OF EARNINGS TO FIXED CHARGES

  


 

June 30

December 31

 

2006

2005

2004

2003

2002

2001

 

 

Income Before Income Taxes

$

5,870

$

7,621

$

7,527

$

11,160

$

10,802

$

3,468

 

 

 

 

 

 

 

Interest on Indebtedness

5,203

8,016

7,137

6,813

7,952

11,311

 

 

 

 

 

 

 

Portion of rents representative

 

 

 

 

 

 

of the interest factor

618

1,161

1,106

1,046

949

883

 

 

 

 

 

 

 

Earnings as adjusted

$

11,691

$

16,798

$

15,770

$

19,019

$

19,703

$

15,662

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on Indebtedness

$

5,203

$

 8,016

$

 7,137

$

6,813

$

7,952

$

11,311

 

 

 

 

 

 

 

Portion of rents representative

 

 

 

 

 

 

of the interest factor

618

1,161

1,106

1.046

949

883

 

 

 

 

 

 

 

Fixed Charges

$

5,821

$

 9,177

$

 8,243

$

7,859

$

8,901

$

12,194

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings

 

 

 

 

 

 

to Fixed Charges

2.01

1.83

1.91

2.42

2.01

1.28