EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended Three Months Ended
Sept. 30 Sept. 30 Sept. 30 Sept. 30
2002 2001 2002 2001
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(Thousands of Dollars, except ratio amounts)
Income (loss) before income taxes,
extraordinary item and cumulative
effect of accounting changes $27,345 $(35,526) $4,984 $(30,851)
Amortization of capitalized interest 2,164 2,010 714 697
Interest expense 23,996 25,813 8,072 8,432
Interest portion of rental expense 1,113 1,610 364 464
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Earnings (loss) $54,618 $(6,093) $14,134 $(21,258)
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Interest $24,235 $26,347 $8,128 $8,571
Interest portion of rental expense 1,113 1,610 364 464
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Fixed Charges $25,348 $27,957 $8,492 $9,035
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Ratio of Earnings to Fixed Charges 2.15 - 1.66 -
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The results of operations for the three and nine months ended September 30, 2001, respectively,
are inadequate to cover total fixed charges as defined. The coverage deficiency for the three
and nine months ended September 30, 2001 is $30,293 and $34,050, respectively.