EXHIBIT 12

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(Dollars in thousands)

			Three Months Ended
			March 31,
			2005			2004
Income before discontinued operations, net of minority interests			$	6,442		$	9,645
Add:
	Portion of rents representative of the interest factor			162			151
	Minority interests			220			273
	Loss on early debt retirement			8,464			5
	Interest on indebtedness from continuing operations			39,160			28,913
		Earnings	$	54,448		$	38,987
Fixed charges and preferred stock dividend:
	Interest on indebtedness from continuing operations		$	39,160		$	28,913
	Loss on early debt retirement			8,464			5
	Capitalized interest			(270	)		272
	Portion of rents representative of the interest factor			162			151
		Fixed charges		47,516			29,341
Add:
	Preferred stock dividend			3,842			5,085
	Accretion of preferred stock			—			1,562
		Preferred stock dividend		3,842			6,647
		Combined fixed charges and preferred stock dividend	$	51,358		$	35,988
Ratio of earnings to fixed charges				1.15	x		1.33	x
Ratio of earnings to combined fixed charges and preferred stock dividend				1.06	x		1.08	x