EX-12.(A) 3 b52865wiexv12wxay.txt EX-12.(A) STATEMENT RE: COMPUTATIONS OF RATIO OF EARNINGS TO FIXED CHARGES . . . Exhibit 12(a) WELLMAN, INC. COMPUTATIONS OF RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK ACCRETION (IN THOUSANDS)
Nine Months Ended Sept. 30, 2004 2003 2002 2001 2000 1999 --------------- --------- ------- ------- ------- --------- EARNINGS Earnings (loss) from continuing operations before income taxes $(61,615) $(151,088) $35,434 $17,276 $48,980 $(17,955) Fixed Charges 37,673 22,989 20,809 28,358 30,774 19,212 --------------- --------- -------- ------- ------- --------- TOTAL EARNINGS AVAILABLE $(23,942) $(128,099) $56,243 $45,634 $79,754 $1,257 --------------- --------- ------- ------- ------- --------- FIXED CHARGES Interest expense, net of interest capitalized $ 28,107 $ 10,131 $10,254 $17,957 $17,959 $13,281 Amortization of debt discount and deferred financing costs 6,638 -- 307 424 539 305 Interest portion of rental expense 2,928 12,858 10,248 9,977 12,276 5,626 -------------- --------- ------- -------- ------- -------- TOTAL FIXED CHARGES $ 37,673 $ 22,989 $20,809 $28,358 $30,774 $19,212 --------------- --------- ------- ------- ------- -------- Accretion of preferred stock and beneficial conversion charge $ 9,117 $ 10,112 0 0 0 0 TOTAL COMBINED FIXED CHARGES AND PREFERRED STOCK ACCRETION $ 46,790 $ 33,101 $20,809 $28,358 $30,774 $19,212 RATIO OF EARNINGS TO FIXED CHARGES N/A N/A 2.7 1.6 2.6 N/A RATIO OF EARNINGS TO COMBINED FIXED CHARGES & PREFERRED STOCK ACCRETION N/A N/A 2.7 1.6 2.6 N/A