EXHIBIT 12
RATIO OF EARNINGS TO FIXED CHARGES
Ratio of Earnings to Fixed Charges
(Dollars in thousands, except ratio)
| 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||
| Earnings: | ||||||||||||||||||||
| Pretax income | $ | 56,051 | $ | 67,922 | $ | 32,824 | $ | (9,093 | ) | $ | 24,915 | |||||||||
| Interest | 34,224 | 30,720 | 29,200 | 37,887 | 37,523 | |||||||||||||||
| Interest in leases | 2,434 | 2,226 | 2,002 | 2,012 | 1,719 | |||||||||||||||
| Amortization of capitalized interest | 471 | 431 | 434 | 409 | 338 | |||||||||||||||
| $ | 93,180 | $ | 101,299 | $ | 64,460 | $ | 31,215 | $ | 64,495 | |||||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest | $ | 34,224 | $ | 30,720 | $ | 29,200 | $ | 37,887 | $ | 37,523 | ||||||||||
| Capitalized interest | 480 | 271 | 7 | 513 | 895 | |||||||||||||||
| Interest in leases | 2,434 | 2,226 | 2,002 | 2,012 | 1,719 | |||||||||||||||
| Amortization of capitalized interest | 471 | 431 | 434 | 409 | 338 | |||||||||||||||
| $ | 37,609 | $ | 33,648 | $ | 31,643 | $ | 40,821 | $ | 40,475 | |||||||||||
| Ratio: | 2.5x | 3.0x | 2.0x | 0.8x | 1.6x | |||||||||||||||
77