S-3: Registration statement for specified transactions by certain issuers
Published on December 23, 1998
EXHIBIT 12
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS (1)
The ratio of earnings to combined fixed charges and preferred stock
dividends are as follows:
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(1) For purposes of calculating the ratio of earnings to combined fixed charges
and preferred stock dividends, net earnings (before non-recurring items) has
been added to fixed charges, and that sum has been divided by such fixed
charges. Fixed charges consist of interest expense and amortization of
deferred financing costs, and for each of the three years ended December 31,
1997, 1998 and 1999, cumulative preferred stock dividends are included
starting as of the dates of issuance of the Series A Cumulative Preferred
Stock and Series B Cumulative Preferred Stock.