<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>8
<FILENAME>g70686ex12-2.txt
<DESCRIPTION>COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TEXT>
<PAGE>   1
                                                                    EXHIBIT 12.2

               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


<TABLE>
<CAPTION>
                                                                    Years Ended December 31,
                                             -------------------------------------------------------------------   Quarter Ended
                                                1996          1997            1998          1999         2000      March 31, 2001
                                             ---------      ---------      ---------     ---------     ---------   --------------
<S>                                          <C>            <C>            <C>           <C>           <C>           <C>
                                                                                                   (dollars in thousands)
                                                                                                                     (unaudited)
Fixed Charges:
     Interest expense on indebtedness        $  15,996      $  14,685      $   6,857     $   5,556     $  14,773     $   4,492
     Interest expense on portion of rent
     expense representative of interest            435            394            340           366           350           111

     Total Fixed Charges                     $  16,431      $  15,079      $   7,197     $   5,922     $  15,123     $   4,603

Earnings (Loss):
     Net income (loss) before provision
     income taxes and minority interest      $(189,389)     $(160,544)     $  34,876     $  84,735     $ 152,981     $  73,365

     Fixed charges per above                    16,431         15,079          7,197         5,922        15,123         4,603

     Total earnings (loss)                   $(172,958)     $(145,465)     $  42,073     $  90,657     $ 168,104     $  77,968

Ratio of earnings to fixed charges               (10.5)          (9.6)           5.8          15.3          11.1          16.9

Coverage deficiency                          $(189,389)     $(160,544)            --            --            --            --
</TABLE>


</TEXT>
</DOCUMENT>