EX-12 4 l99813aexv12.txt EXHIBIT 12 . . . Exhibit 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES THE ANDERSONS, INC.
(In thousands, except for ratio) Year ended December 31 2002 2001 2000 1999 1998 --------------------------------------------------------------------------------------- Computation of earnings Income before income taxes $ 19,834 $ 11,931 $ 14,364 $ 11,959 $ 13,006 Add: Interest expense on indebtedness 9,812 11,570 11,829 9,517 8,954 Interest portion of rent expense 3,627 3,587 3,620 3,654 4,468 --------------------------------------------------------------------------------------- Earnings $ 33,273 $ 27,088 $ 29,813 $ 25,130 $ 26,428 ======================================================================================= Computation of fixed charges Interest expense on indebtedness $ 9,812 $ 11,570 $ 11,829 $ 9,517 $ 8,954 Interest portion of rent expense 3,627 3,587 3,620 3,654 4,468 --------------------------------------------------------------------------------------- fixed charges $ 13,439 $ 15,157 $ 15,449 $ 13,171 $ 13,422 ======================================================================================= Ratio of earnings to fixed charges 2.48 1.79 1.93 1.91 1.97 =======================================================================================