EX-12 11 a2105800zex-12.htm EXHIBIT 12
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Exhibit 12

Computation of Ratios of Earnings to Fixed Charges

($ in thousands)

 
  
    
   For the Year Ended
December 31, 2002

Consolidated Cash Flow:
(a) Consolidated Net Income (CNI)       $ 39,862
(b) Provision for Income Taxes         36,742
(c) Consolidated Interest Expense         56,370
(d) Depreciation (and Amortization if not broken out)         21,719
(e) Amortization         2,209
(f) Any extraordinary loss in the period         —
(g) Any net loss realized through asset sales         75
(h) Non-Cash Items increasing CNI (other than accruals in the ordinary course of business)         100
 
  Total Consolidated Cash Flow:       $ 157,077
 
Fixed Charges:      

(a)
Consolidated Interest Expense (CIE)
 
 
 
$
56,370

 
(paid or accrued, without limitation, debt issuance costs and original issue discount, non-cash interest payments, interest component of any deferred payment obligations, interest component of all payments associated with Capital Lease Obligations, imputed interest with respect to Attributable Debt (see definition), commissions, discounts and other fees or charges incurred in respect of letter of credit or bankers' acceptance financings and the net effect of all payments made or received pursuant to hedging obligations.)
 
 
 
 
 
  (i)   debt issuance costs and original issue discount   Included in CIE   4,548        
  (ii)   non-cash interest payments   Included in CIE   —        
  (iii)   interest component of any deferred payment obligations   Included in CIE   —        
  (iv)   interest component of all payments associated with Capital Lease Obligations   Included in CIE   —        
  (v)   imputed interest with respect to Attributable Debt (see definition)   Included in CIE   —        
  (vi)   commissions, discounts and other fees or charges incurred in respect of letter of credit or bankers' acceptance financings   Included in CIE   —        
  (vii)   net effect of all payments made or received pursuant to hedging obligations   Included in CIE   1,662        
(b) Consolidated Interest Expense Capitalized:                 866
(c) Any Interest Expense Guaranteed by the company on its subsidiaries:   Included in CIE   —          
(d) Product of all dividends on preferred stock times (1 / ABG's after tax rate)   Included in CIE   —          
 
  Total Fixed Charges:               $ 57,236
 

 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges:                 2.7x


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