EX-12 2 0002.txt EXHIBIT 12.1 Exhibit 12.1 ------------
Year ended December 31, Nine months ended September 30, 1997 1998 1999 1998 1999 2000 (in thousands) EARNINGS Pre-tax income from continuing $175,703 $172,896 $43,516 $135,563 $ 36,927 $43,654 operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees Fixed charges (computed below) 15,905 34,338 35,154 24,944 26,765 23,261 Interest capitalized (1,516) (8,455) (9,836) (5,817) (8,500) (800) Minority interest in pre-tax (487) (1,837) (550) (1,445) (969) (535) income of subsidiaries that have not incurred fixed charges Adjustment for 3,567 5,056 2,354 4,822 1,488 1,113 porportionate share of 50% owned entities Income distributed from less -- 1,084 1,200 120 1,200 1,540 than 50% owned companies TOTAL $ 193,172 $ 203,141 $72,152 $158,209 $57,084 $68,756 ------------------------------------ -------------- -------------- -------------- ------------- ------------- -------------- FIXED CHARGES Interest expense, including amortization of debt expense and discount/premium $ 14,168 $22,798 $22,330 $16,802 $15,906 $21,146 Capitalized interest 1,516 8,455 9,836 5,817 8,500 800 Interest in rental expense 221 3,085 2,988 2,325 2,359 1,315 ------------------------------------ -------------- -------------- -------------- ------------- ------------- -------------- TOTAL $ 15,905 $34,338 $35,154 $24,944 $26,765 $23,261 ------------------------------------ -------------- -------------- -------------- ------------- ------------- -------------- RATIO OF EARNINGS 12.1 5.9 2.1 6.3 2.1 3.0 TO FIXED CHARGES ------------------------------------ -------------- -------------- -------------- ------------- ------------- --------------