Exhibit 12
Computation of Ratio of Earnings to Fixed Charges | Twelve Months Ended December 31, | Six Months Ended December 31, | Twelve Months Ended June 30, | Six Months Ended June 30, 1999 | Twelve Months Ended December 31, 1998 | |||||||||||||||||||||||||
(In thousands) | 2002 | 2001 | 2001 | 2000 | 2001 | 2000 | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | (40,423 | ) | $ | 183,370 |
| $ | (19,620 | ) | $ | 37,345 |
| $ | 240,335 |
| $ | 106,547 |
| $ | 40,160 | $ | 212,482 | ||||||||
Fixed charges, as shown below |
| 50,358 |
|
| 47,952 |
|
| 18,787 |
|
| 33,179 |
|
| 62,343 |
|
| 61,670 |
|
| 33,792 |
| 54,109 | ||||||||
Equity in income of investees |
| 9,818 |
|
| (11,249 | ) |
| (796 | ) |
| (8,984 | ) |
| (19,437 | ) |
| (1,969 | ) |
| — |
| — | ||||||||
Adjusted Earnings (Loss) | $ | 19,753 |
| $ | 220,073 |
| $ | (1,629 | ) | $ | 61,540 |
| $ | 283,241 |
| $ | 166,248 |
| $ | 73,952 | $ | 266,591 | ||||||||
Fixed charges: | ||||||||||||||||||||||||||||||
Interest on indebtedness, expensed or capitalized | $ | 46,213 |
| $ | 43,356 |
| $ | 16,564 |
| $ | 30,806 |
| $ | 57,598 |
| $ | 55,289 |
| $ | 30,504 | $ | 48,138 | ||||||||
Interest within rent expense |
| 4,145 |
|
| 4,596 |
|
| 2,223 |
|
| 2,373 |
|
| 4,745 |
|
| 6,381 |
|
| 3,288 |
| 5,971 | ||||||||
Total Fixed Charges | $ | 50,358 |
| $ | 47,952 |
| $ | 18,787 |
| $ | 33,179 |
| $ | 62,343 |
| $ | 61,670 |
| $ | 33,792 | $ | 54,109 | ||||||||
Ratio of Earnings to Fixed Charges |
| (a | ) |
| 4.59 |
|
| (b | ) |
| 1.85 |
|
| 4.54 |
|
| 2.70 |
|
| 2.19 |
| 4.93 | ||||||||
(a) | The deficiency of earnings to cover fixed charges was $30,605. |
(b) | The deficiency of earnings to cover fixed charges was $20,416 for the period ended December 31, 2001. |