EXHIBIT 12
ALPHAMA INC. and SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except for ratio data)
1999 | 2000 | 2001(1) | 2002(1) | 2003 | |
Income (loss) from continuing operations before provision for income taxes |
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Add: | |||||
Portion of rents representative of the interest factor |
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Interest on indebtedness | 39,174 | 45,183 | 45,467 | 71,496 | 59,667 |
Amortization of debt expense | 1,643 | 2,070 | 6,022 | 4,727 | 3,941 |
Amortization of interest capitalized | 457 | 455 | 450 | 335 | 23 |
Income (loss) as adjusted | $89,204 | $126,791 | $18,146 | $(75,535) | $87,571 |
Fixed charges | |||||
Interest on indebtedness (a) | $39,174 | $45,183 | $ 45,467 | $ 71,496 | $59,667 |
Interest capitalized (b) | 325 | 1,265 | 2,232 | 1,904 | 167 |
Amortization of debt expense (c) | 1,643 | 2,070 | 6,022 | 4,727 | 3,941 |
Rent expense | 6,827 | 9,164 | 10,029 | 12,567 | 14,068 |
Portion of rents representative of the interest factor (d) |
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Fixed charges (a+b+c+d) | $43,418 | $51,573 | $57,064 | $82,316 | $68,464 |
Ratio of earnings to fixed charges | 2.05 | 2.46 | -- | -- | 1.28 |
(1) Earnings in 2001 and 2002 were not sufficient to cover fixed charges. The deficiency of earnings was $38,918 in 2001 and $157,851 in 2002.
