EXHIBIT 12.2 CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES ------------------------------------------------- SIX MONTHS ENDED JANUARY 31, 1998 --------------------------------- (DOLLAR AMOUNTS IN THOUSANDS) ----------------------------- EARNINGS: Net income $44,062 Interest expense (including debt discount and debt issuing costs) 17,213 Capitalized interest Other adjustments 324 ------- $61,599 ======= FIXED CHARGES: Interest expense (including debt discount and debt issuing costs) $17,213 Capitalized interest -- Preferred stock dividends 2,925 Other adjustments 146 ------- $20,284 ======= RATIO OF EARNINGS TO FIXED CHARGES 3.0