Exhibit 12
COMPUTATIONS OF RATIOS OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDENDS
| Three Months Ended June 30, 2003 |
Year Ended December 31, 2002 | |||||
| Income from continuing operations |
$ | 11,288 | $ | 48,080 | ||
| Add back: |
||||||
| Fixed charges |
7,581 | 27,849 | ||||
| Earnings available for fixed charges and preferred dividends |
$ | 18,869 | $ | 75,929 | ||
| Fixed charges |
||||||
| Interest expense |
$ | 7,581 | $ | 27,849 | ||
| Capitalized interest |
50 | 120 | ||||
| Interest portion of rent expense |
— | — | ||||
| Total fixed charges |
7,631 | 27,969 | ||||
| Preferred dividends |
— | — | ||||
| Total fixed charges and preferred dividends |
$ | 7,581 | $ | 27,969 | ||
| Ratio of earnings to fixed charges and preferred dividends |
2.47 | 2.71 | ||||