EX-12 16 ex12.htm COMPUTATION OF THE RATIO OF EARNINGS ALPHAMA INC

EXHIBIT 12

ALPHAMA INC. and SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except for ratio data)
 

2000

2001(1)

2002(1)

2003

2004(1)

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



$76,028



$(37,136)



$(156,282)



$24,121



$(253,598)

Add:

          

   Portion of rents representative of    the interest factor


3,055


3,343


4,189


4,689


4,356

   Interest on indebtedness

45,183

45,467

71,496

59,667

56,324

   Amortization of debt expense

2,070

6,022

4,727

3,941

2,737

   Amortization of interest capitalized

455

450

335

23

25
           

     Income (loss) as adjusted

$126,791

$18,146

$(75,535)

$92,441

$(190,156)
           

Fixed charges

          

   Interest on indebtedness (a)

$45,183

$ 45,467

$ 71,496

$59,667

$56,324

   Interest capitalized (b)

1,265

2,232

1,904

167

405

   Amortization of debt expense (c)

2,070

6,022

4,727

3,941

2,737

   Rent expense

9,164

10,029

12,567

14,068

13,068

   Portion of rents representative of    the interest factor (d)


3,055


3,343


4,189


4,689


4,356
           

     Fixed charges (a+b+c+d)

$51,573

$57,064

$82,316

$68,464

$63,822
           

Ratio of earnings to fixed charges

2.46

--

--

1.35

--

(1) Earnings in 2001, 2002 and 2004 were not sufficient to cover fixed charges. The deficiency of earnings was $38,918 in 2001, $157,851 in 2002 and $253,978 in 2004.