EX-12 7 g76612exv12.txt CALCULATION OF RATIOS OF EARNINGS TO FIXED CHARGES EXHIBIT 12 CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (In Thousands of Dollars, Except for Ratios)
2002 2001 2000 1999 1998 -------- -------- -------- -------- -------- Income/(loss) from continuing operations before income tax benefit $ 734 $ (4,979) $(19,060) $ (2,403) $ (5,798) Add Fixed Charges: Interest expense 12,679 12,763 14,086 11,712 1,649 Amortization of financing costs 528 571 900 620 113 --------- -------- -------- -------- -------- Total income (loss) as defined $ 13,941 $ 8,355 $ (4,074) $ 9,929 $ (4,036) ========= ======== ======== ======== ======== Fixed Charges: Interest expense $ 12,679 $ 12,763 $ 14,086 $ 11,712 $ 1,649 Capitalized interest -- -- -- 203 59 Amortization of financing costs 528 571 900 620 113 -------- -------- -------- -------- -------- Total fixed charges $ 13,207 $ 13,334 $ 14,986 $ 12,535 $ 1,821 ======== ======== ======== ======== ======== Ratio of earnings to fixed charges 1.06 0.63 (0.27) 0.79 (2.22) Additional income required to meet a 1.0 ratio: $ -- $ 4,979 $ 19,060 $ 2,606 $ 5,857