Exhibit 12
Statement of Computation of Ratio of Earnings to Fixed Charges
Six Months Ended June 30, | |||||||
2008 | 2007 | ||||||
(000’s) | (000’s) | ||||||
Earnings: | |||||||
Loss from continuing operations | $ | (4,024 | ) | $ | (5,895 | ) | |
Additions: | |||||||
Income tax expense (recovery) | 3,118 | (948 | ) | ||||
Minority interest in income of consolidated subsidiaries | 4,976 | 9,710 | |||||
Fixed charges, as shown below | 10,408 | 8,928 | |||||
Distributions received from equity-method investees | 68 | — | |||||
18,570 | 17,690 | ||||||
Subtractions: | |||||||
Equity in income of investees | 221 | 11 | |||||
Minority interest in earnings of consolidated subsidiaries that have not incurred fixed charges | — | — | |||||
221 | 11 | ||||||
Earnings as adjusted | $ | 14,325 | $ | 11,784 | |||
Fixed charges: | |||||||
Interest on indebtedness, expensed or capitalized | 6,844 | 4,580 | |||||
Amortization of debt discount and expense and premium on indebtedness, expensed or capitalized | 688 | 1,659 | |||||
Interest within rent expense | 2,876 | 2,689 | |||||
Total fixed charges | $ | 10,408 | $ | 8,928 | |||
Ratio of earnings to fixed charges | 1.38 | 1.32 |