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Exhibit 99.4
Computation of Ratio of EBITDA to combined fixed charges
| For the 12 Months Ended December 31, | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2003 | 2002 | 2001 | 2000 | 1999 | ||||||||||||
EBITDA: | |||||||||||||||||
Net income | $ | 292,157 | $ | 215,270 | $ | 229,912 | $ | 217,586 | $ | 38,886 | |||||||
Add: Interest expense | 192,295 | 184,933 | 169,586 | 173,143 | 91,044 | ||||||||||||
Add: Depreciation and amortization | 52,338 | 44,117 | 32,170 | 31,114 | 9,977 | ||||||||||||
Total EBITDA | $ | 536,790 | $ | 444,320 | $ | 431,668 | $ | 421,843 | $ | 139,907 | |||||||
Combined fixed charges: | |||||||||||||||||
Interest expense | $ | 192,295 | $ | 184,933 | $ | 169,586 | $ | 173,143 | $ | 91,044 | |||||||
Preferred dividends | 36,908 | 36,908 | 36,908 | 36,908 | 23,843 | ||||||||||||
Total Combined fixed charges: | $ | 229,203 | $ | 221,841 | $ | 206,494 | $ | 210,051 | $ | 114,887 | |||||||
EBITDA/Combined fixed charges | 2.34 | x | 2.00 | x | 2.09 | x | 2.01 | x | 1.22 | x |
Computation of Ratio of EBITDA to combined fixed charges