Exhibit 12
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(in thousands, except ratio amounts)
| Quarter Ended September 30, |
Period Ended September 30, |
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| 2004 |
2003 |
2004 |
2003 |
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| Net Income |
$ | 10,797 | $ | 10,987 | $ | 33,181 | $ | 33,489 | ||||||||
| Additions: |
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| Fixed charges |
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| Interest expense |
8,760 | 7,401 | 25,949 | 22,029 | ||||||||||||
| Capitalized interest |
156 | 77 | 488 | 163 | ||||||||||||
| 8,916 | 7,478 | 26,437 | 22,192 | |||||||||||||
| Deductions: |
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| Capitalized interest |
(156 | ) | (77 | ) | (488 | ) | (163 | ) | ||||||||
| Adjusted earnings |
$ | 19,557 | $ | 18,388 | $ | 59,130 | $ | 55,518 | ||||||||
| Fixed Charges (from above) |
$ | 8,916 | $ | 7,478 | $ | 26,437 | $ | 22,192 | ||||||||
| Ratio of Earnings to Fixed Charges |
2.2x | 2.5x | 2.2x | 2.5x | ||||||||||||