EX-12 12 ex12-1.txt EXHIBIT 12.1 Exhibit 12.1
COMPUTATION OF RATIOS (in thousands) ----------------------------------------------------------------------------- ---------- ---------- --------- Earnings to fixed charges for the fiscal year ending: 2003 2002 2001 ----------------------------------------------------------------------------- ---------- ---------- --------- Income from continuing operations before income taxes $14,330 $11,772 $20,410 ----------------------------------------------------------------------------- ---------- ---------- --------- Minority Interest in earnings 4,439 2,605 4,099 ----------------------------------------------------------------------------- ---------- ---------- --------- Fixed Charges 13,298 12,984 14,888 ----------------------------------------------------------------------------- ---------- ---------- --------- Total Earnings $33,715 $27,813 $39,726 ----------------------------------------------------------------------------- ---------- ---------- --------- Earnings to Fixed Charges (1) 2.5:1 2.1:1 2.7:1 ----------------------------------------------------------------------------- ---------- ---------- --------- (1) Calculated by dividing the sum of income from continuing operations, Minority Interest and fixed charges by fixed charges. Fixed charges represent total interest expense including amortization of debt expense. ----------------------------------------------------------------------------- ----------- ----------- ---------- Long-term debt to total capital at the fiscal year ended: 2003 2002 2001 ----------------------------------------------------------------------------- ----------- ----------- ---------- Total debt, including current maturities $140,335 $155,510 $150,131 ----------------------------------------------------------------------------- ----------- ----------- ---------- Total Equity 227,454 233,539 235,459 ----------------------------------------------------------------------------- ----------- ----------- ---------- Long-term debt to total capital (2) 62:1 67:1 64:1 ----------------------------------------------------------------------------- ----------- ----------- ---------- (2) Calculated by dividing the sum total debt, including current maturities by the sum of total debt and equity (Capital).