EXHIBIT 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Three Months Ended June 30 June 30 2001 2000 -------- -------- (Thousands of Dollars)
(Loss) Income before income taxes, extraordinary item and cumulative effect of accounting changes $(8,629) $37,543 Amortization of capitalized interest 693 612 Interest expense 8,487 7,471 Interest portion of rental expense 526 651
-------- -------- Earnings $ 1,077 $46,277 ======== ========
Interest $ 8,674 $ 7,910 Interest portion of rental expense 526 651 -------- -------- Fixed Charges $ 9,200 $ 8,561 ======== ========
Ratio of Earnings to Fixed Charges 0.12 5.41 ======== ========