EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended Mar. 31 Mar. 31 2001 2000 -------- -------- (Thousands of Dollars)
Income before income taxes, extraordinary item and cumulative effect of accounting changes $ 3,954 $26,733 Amortization of capitalized interest 620 608 Interest expense 8,894 7,222 Interest portion of rental expense 620 598 -------- -------- Earnings $14,088 $35,161 ======== ========
Interest $ 9,102 $ 7,586 Interest portion of rental expense 620 598 -------- -------- Fixed Charges $ 9,722 $ 8,184 ======== ========
Ratio of Earnings to Fixed Charges 1.45 4.30 ======== ========