EX-12 7 ex12.txt EXHIBIT 12 Exhibit 12 COMPUTATION OF RATIOS (in thousands)
------------------------------------------------------------------------------------------------------------ Earnings to fixed charges for the fiscal year ending: 2002 2001 2000 ------------------------------------------------------------------------------------------------------------ Income from continuing operations before income taxes $11,772 $20,230 $6,832 ------------------------------------------------------------------------------------------------------------ Minority Interest in earnings 2,605 4,099 2,058 ------------------------------------------------------------------------------------------------------------ Fixed Charges 12,816 14,736 18,632 ------------------------------------------------------------------------------------------------------------ Total Earnings $27,193 $39,065 $27,522 ------------------------------------------------------------------------------------------------------------ Earnings to Fixed Charges (1) 2.12:1 2.65:1 1.48:1 ------------------------------------------------------------------------------------------------------------
(1) Calculated by dividing the sum of income from continuing operations, Minority Interest and fixed charges by fixed charges. Fixed charges represent total interest expense including amortization of debt expense.
------------------------------------------------------------------------------------------------------------ Long-term debt to total capital at the fiscal year ended: 2002 2001 2000 ------------------------------------------------------------------------------------------------------------ Total debt, including current maturities $155,510 $150,131 $134,932 ------------------------------------------------------------------------------------------------------------ Total Equity 233,539 235,459 281,215 ------------------------------------------------------------------------------------------------------------ Total Capital $389,049 $385,590 $416,147 ------------------------------------------------------------------------------------------------------------ Long-term debt to total capital (2) .40:1 .39:1 .32:1 ------------------------------------------------------------------------------------------------------------
(2) Calculated by dividing the sum total debt, including current maturities by the sum of total debt and equity (Capital).