EX-12 16 exhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ALPHAMA INC

EXHIBIT 12

ALPHAMA INC. and SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except for ratio data)

 

 

1998

1999

2000

2001(1)

2002(1)
           

Income(loss) before provision for income taxes


$36,638


$46,186


$75,864


$(35,061)


$(161,269)

Add:

          

   Portion of rents representative of    the interest factor


2,222


2,276


2,979


4,211


4,152

   Interest on indebtedness

25,613

39,174

45,183

45,467

71,496

   Amortization of debt expense

1,240

1,643

2,070

6,022

4,727

   Amortization of interest capitalized

408

457

455

450

335
           

     Income (loss) as adjusted

$66,121

$89,736

$126,447

$20,221

$(80,487)
           

Fixed charges

          

   Interest on indebtedness (a)

$25,613

$39,174

$45,183

$ 45,467

$ 71,496

   Interest capitalized (b)

744

325

1,265

2,232

1,904

   Amortization of debt expense (c)

1,240

1,643

2,070

6,022

4,727

   Rent expense

6,665

6,827

9,164

10,029

12,671

   Portion of rents representative of    the interest factor (d)


2,222


2,276


3,055


3,343


4,224
           

     Fixed charges (a+b+c+d)

$29,819

$43,418

$51,573

$57,064

$82,351
           

Ratio of earnings to fixed charges

2.22

2.07

2.45

0.35

-0.98

(1) Earnings in 2001 and 2002 were not sufficient to cover fixed charges. The deficiency of earnings was $36,843 in 2001 and $162,838 in 2002.