EXHIBIT 12
Calculation of Earnings (Deficiency) to Fixed Charges
|
| Year Ended |
| March 15, 2000 |
| |||
|
| |||||||
|
| (in thousands) |
| |||||
Earnings |
| $ | (2,005 | ) | $ | (948 | ) | |
Income from Continuing operations before income taxes |
| — |
| — |
| |||
Adjustment for undistributed income |
| — |
| — |
| |||
Distributions from affiliates |
| — |
| — |
| |||
|
|
|
|
|
| |||
Fixed Charges |
| 34,665 |
| 28,211 |
| |||
Depreciation of previously capitalized interest |
| — |
| — |
| |||
Interest Capitalized |
| (30,258 | ) | (24,966 | ) | |||
Earnings |
| $ | 2,402 |
| $ | 2,297 |
| |
|
|
|
|
|
| |||
Fixed Charges |
|
|
|
|
| |||
Interest expense and capitalized amounts (including construction related fixed charges) |
| 33,849 |
| 27,565 |
| |||
Net amortization of issuance costs (including capitalized amounts) |
| 816 |
| 646 |
| |||
Fixed charges |
| $ | 34,665 |
| $ | 28,211 |
| |
|
|
|
|
|
| |||
Deficiency of earnings to fixed charges |
| $ | (32,263 | ) | $ | (25,914 | ) | |