10-K405: Annual report [Sections 13 and 15(d), S-K Item 405]
Published on February 16, 1999
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:
- -------------------------
(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 the years ended December 31, 1997 and 1998,
cumulative preferred stock dividends are included starting as of the date of
issuance of the Series A Cumulative Preferred Stock and Series B Cumulative
Preferred Stock.