EX-12 2 exh12earningstofixedchargese.htm POST EFFECTIVE AMENDMENT NO. 2 - EXHIBIT 12

                                                                                                                                                    

Exhibit 12

 

 

 

RATIO OF EARNINGS TO FIXED CHARGES

                                                                                                                                                                                                                                                                                                         

 

 

March 31

December 31

 

2009

2008

2007

2006

2005

2004

 

 

Income Before Income Taxes

$  2,116

$13,761

$ 15,754

$ 11,023

$  7,621

$  7,527

 

 

 

 

 

 

 

Interest on Indebtedness

     3,264

   14,728

   15,746

   11,994

     8,016

     7,137

 

 

 

 

 

 

 

Portion of rents representative

 

 

 

 

 

 

     of the interest factor

       392

    1,498

    1,396

    1,249

    1,161

    1,106

 

 

 

 

 

 

 

           Earnings as adjusted

$  5,772

$ 29,987

$ 32,896

$ 24,266

$ 16,798

$ 15,770

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest on Indebtedness

$  3,264

$ 14,728

$ 15,746

$ 11,994

$  8,016

$  7,137

 

 

 

 

 

 

 

Portion of rents representative

 

 

 

 

 

 

     of the interest factor

       392

    1,498

    1,396

    1,249

    1,161

    1,106

 

 

 

 

 

 

 

           Fixed Charges

$  3,656

$16,226

$17,142

$13,243

$  9,177

$  8,243

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings

 

 

 

 

 

 

     to Fixed Charges

       1.58

       1.85

       1.92

       1.83

       1.83

       1.91