EX-12 5 d80863ex12.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 1 EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
June 30, Year Ended 2000 1999 1999 1998 1997 1996 1995 -------- -------- -------- -------- -------- -------- -------- Income before income taxes, equity in earnings of non- consolidated affiliates and extraordinary item 40,702 172,799 220,213 117,922 104,077 71,240 49,817 Dividends and other received from nonconsolidated affiliates 920 10,539 7,079 9,168 4,624 10,430 1,432 Total 41,622 183,338 227,292 127,090 108,701 81,670 51,249 Fixed Charges Interest expense 125,460 78,842 192,321 135,766 75,076 30,080 20,752 Amortization of loan fees 156 649 1,970 2,220 1,451 506 1,004 Interest portion of rentals 40,536 9,627 24,511 16,044 6,120 424 361 Total fixed charges 166,152 89,118 218,802 154,030 82,647 31,010 22,117 Preferred stock dividends Tax effect of preferred dividends -- -- -- -- -- -- -- After tax preferred dividends -- -- -- -- -- -- -- Total fixed charges and preferred dividends 166,152 89,118 218,802 154,030 82,647 31,010 22,117 Total earnings available for payment of fixed charges 207,774 272,456 446,094 281,120 191,348 112,680 73,366 Ratio of earnings to fixed Charges 1.25 3.06 2.04 1.83 2.32 3.63 3.32 Rental fees and charges 202,678 120,333 306,393 200,550 76,500 5,299 4,510 Interest rate 20% 8% 8% 8% 8% 8% 8%