EXHIBIT 12.2 CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES THREE MONTHS ENDED OCTOBER 31, 1997 (DOLLAR AMOUNTS IN THOUSANDS) EARNINGS: Net income $21,537 Interest expense 8,553 Other adjustments 273 ------- $30,363 ======= FIXED CHARGES: Interest expense $ 8,553 Capitalized interest __ Preferred stock dividends 1,463 Other adjustments 94 ------- $10,110 ======= RATIO OF EARNINGS TO FIXED CHARGES 3.0