EX-12 2 exhibit12.htm ALPHAMA INC

EXHIBIT 12

ALPHAMA INC. and SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except for ratio data)

 

 

1999

2000

2001(1)

2002(1)

2003
           

Income (loss) from continuing operations before provision for income taxes



$45,654



$76,028



$(37,136)



$(156,282)



$19,251

Add:

          

   Portion of rents representative of    the interest factor


2,276


3,055


3,343


4,189


4,689

   Interest on indebtedness

39,174

45,183

45,467

71,496

59,667

   Amortization of debt expense

1,643

2,070

6,022

4,727

3,941

   Amortization of interest capitalized

457

455

450

335

23
           

     Income (loss) as adjusted

$89,204

$126,791

$18,146

$(75,535)

$87,571
           

Fixed charges

          

   Interest on indebtedness (a)

$39,174

$45,183

$ 45,467

$ 71,496

$59,667

   Interest capitalized (b)

325

1,265

2,232

1,904

167

   Amortization of debt expense (c)

1,643

2,070

6,022

4,727

3,941

   Rent expense

6,827

9,164

10,029

12,567

14,068

   Portion of rents representative of    the interest factor (d)


2,276


3,055


3,343


4,189


4,689
           

     Fixed charges (a+b+c+d)

$43,418

$51,573

$57,064

$82,316

$68,464
           

Ratio of earnings to fixed charges

2.05

2.46

--

--

1.28

(1) Earnings in 2001 and 2002 were not sufficient to cover fixed charges. The deficiency of earnings was $38,918 in 2001 and $157,851 in 2002.