EXHIBIT 12 - STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Period from May 1,
1998 to December 31,
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1998 1999 2000 2001 2002
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Income (loss) before gain on disposal
of real estate assets, discontinued
operations, provision for income taxes
and extraordinary loss $ 54,457 $ 40,608 $(63,485) $ 53,568 $ 50,688
Interest Expense
Notes payable and other debt 58,337 87,124 93,570 86,175 78,374
United States Settlement - - - 4,592 5,461
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Earnings $112,794 $127,732 $ 30,085 $144,335 $134,523
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Interest Expense
Notes payable and other debt 58,337 87,124 93,570 86,175 78,374
United States Settlement - - - 4,592 5,461
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Fixed Charges $ 58,337 $ 87,124 $ 93,570 $ 90,767 $ 83,835
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Ratio of Earnings to Fixed
Charges and preferred stock
dividends (a) 1.93 1.47 0.32 1.59 1.60
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(a) Earnings were insufficient to cover fixed charges by $63.5 million in 2000.
Earnings in 2000 were reduced by $96.5 million for the United States Settlement.