EX-12 8 dex12.htm STATEMENT RE COMPUTATION OF RATIOS STATEMENT RE COMPUTATION OF RATIOS

EXHIBIT 12

 

STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

     2004
     2003
     2002
     2001
     2000
  

Income (loss) before gain on disposal of real estate assets, discontinued operations, provision for income taxes and extraordinary loss

    $ 100,173     $ 96,135     $ 34,685     $ 48,687     $ (70,136 )

Interest Expense

                                         

Notes payable and other debt

      66,349       61,364       70,534       79,595       86,803  

United States Settlement

      —         4,943       5,461       4,592       —    
    
 
 
 
 

Earnings

    $ 166,522     $ 162,442     $ 110,680     $ 132,874     $ 16,667  
    
 
 
 
 

Interest Expense

                                         

Notes payable and other debt

      66,349       61,364       70,534       79,595       86,803  

United States Settlement

      —         4,943       5,461       4,592       —    
    
 
 
 
 

Fixed Charges

    $ 66,349     $ 66,307     $ 75,995     $ 84,187     $ 86,803  
    
 
 
 
 

Ratio of Earnings to Fixed Charges (a)

      2.51 x     2.45 x     1.46 x     1.58 x     —    
    
 
 
 
 
(a) Earnings were insufficient to cover fixed charges by $69.7 million in 2000. Earnings in 2000 were reduced by $96.5 million for the United States Settlement.