Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
2Q 2005 |
2Q 2004 |
YTD 2005 |
YTD 2004 |
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Income from continuing operations |
$ | 8,992 | $ | 10,143 | $ | 18,903 | $ | 20,603 | ||||||||
Additions: |
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Fixed charges |
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Interest expense |
9,283 | 8,614 | 17,870 | 17,189 | ||||||||||||
Capitalized interest |
234 | 254 | 441 | 332 | ||||||||||||
9,517 | 8,868 | 18,311 | 17,521 | |||||||||||||
Deductions: |
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Capitalized interest |
(234 | ) | (254 | ) | (441 | ) | (332 | ) | ||||||||
Adjusted earnings |
$ | 18,275 | $ | 18,757 | $ | 36,773 | $ | 37,792 | ||||||||
Fixed Charges (from above) |
$ | 9,517 | $ | 8,868 | $ | 18,311 | $ | 17,521 | ||||||||
Ratio of Earnings to Fixed Charges |
1.92 | x | 2.12 | x | 2.01 | x | 2.16 | x |