EX-12 3 l01353bexv12.txt EX-12 COMPUTATION OF RATIO OF ERNGS TO FXD CHARGES . . . Exhibit 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES THE ANDERSONS, INC.
Three Months Ended (In thousands, except for ratio) March 31 Year ended December 31 2003 2002 2002 2001 2000 1999 1998 ------------------- ------------------------------------------------ Computation of earnings Income before income taxes $ 596 $ 2,312 $19,834 $11,931 $14,364 $11,959 $13,006 Add: Interest expense on indebtedness 2,303 2,713 9,812 11,570 11,829 9,517 8,954 Interest portion of rent expense 942 872 3,627 3,587 3,620 3,654 4,468 ------------------- ------------------------------------------------ Earnings $ 3,841 $ 5,897 $33,273 $27,088 $29,813 $25,130 $26,428 =================== ================================================ Computation of fixed charges Interest expense on indebtedness $ 2,303 $ 2,713 $ 9,812 $11,570 $11,829 $ 9,517 $ 8,954 Interest portion of rent expense 942 872 3,627 3,587 3,620 3,654 4,468 ------------------- ------------------------------------------------ fixed charges $ 3,245 $ 3,585 $13,439 $15,157 $15,449 $13,171 $13,422 =================== ================================================ Ratio of earnings to fixed charges 1.18 1.64 2.48 1.79 1.93 1.91 1.97 =================== ================================================