EX-12 2 l36419aexv12.htm EX-12 EX-12
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands, except ratio amounts)
                 
    Three Months Ended  
    March 31,  
    2009     2008  
Income (loss) before income taxes
   $ (2,230 )   $ 136,590  
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
     623       245  
Amortization of capitalized interest
     481       432  
Interest expense
     8,474       10,998  
Interest portion of rental expense
     2,155       1,882  
 
            
 
Earnings
   $ 9,503     $ 150,147  
 
            
 
                
Interest
   $ 9,337     $ 11,892  
Interest portion of rental expense
     2,155       1,822  
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates
     —       —  
 
            
 
Fixed Charges
   $ 11,492     $ 13,774  
 
            
 
                
Ratio of Earnings to Fixed Charges
     0.83       10.90