EX-12 12 dex12.htm STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Statement Regarding Computation of Ratios of Earnings to Fixed Charges

Exhibit 12

STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

     For the year ended December 31,
(dollars in thousands)    2006    2005    2004    2003    2002

Income before net gain or loss on real estate disposals, discontinued operations, provision for income taxes and extraordinary loss

   $ 131,430    $ 125,422    $ 100,220    $ 96,135    $ 34,685

Interest Expense

              

Senior notes payable and other debt

     141,094      105,581      66,105      61,660      72,384

United States Settlement

     —        —        —        4,943      5,461
                                  

Earnings

   $ 272,524    $ 231,003    $ 166,325    $ 162,738    $ 112,530
                                  

Interest Expense

              

Senior notes payable and other debt

   $ 141,094    $ 105,581    $ 66,105    $ 61,660    $ 72,384

United States Settlement

     —        —        —        4,943      5,461
                                  

Fixed Charges

   $ 141,094    $ 105,581    $ 66,105    $ 66,603    $ 77,845
                                  

Ratio of Earnings to Fixed Charges

     1.93      2.19      2.52      2.44      1.45