EXHIBIT 12
Published on February 25, 2009
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RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in Thousands)
|
|
Year Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||
Income from continuing operations |
$ | 42,885 | $ | 47,696 | $ | 45,536 | $ | 50,688 | $ | 32,303 | ||||||
Add: Interest expense |
4,114 | 4,957 | 7,028 | 8,310 | 11,523 | |||||||||||
Earnings |
$ | 46,999 | $ | 52,653 | $ | 52,564 | $ | 58,998 | $ | 43,826 | ||||||
Interest expense |
$ | 4,114 | $ | 4,957 | $ | 7,028 | $ | 8,310 | $ | 11,523 | ||||||
Interest expense |
$ | 4,114 | $ | 4,957 | $ | 7,028 | $ | 8,310 | $ | 11,523 | ||||||
Preferred stock buyback |
(989 | ) | | | | | ||||||||||
Preferred stock dividends |
15,390 | 16,923 | 17,157 | 17,343 | 17,356 | |||||||||||
Fixed Charges |
$ | 19,504 | $ | 21,880 | $ | 24,185 | $ | 25,653 | $ | 28,879 | ||||||
Ratio of earnings to fixed charges |
11.42 | 10.62 | 7.48 | 7.10 | 3.80 | |||||||||||
Ratio of earnings to fixed charges and preferred dividends |
2.54 | 2.41 | 2.17 | 2.30 | 1.52 | |||||||||||
RATIO OF EARNINGS TO FIXED CHARGES (Dollars in Thousands)