. . . Exhibit 12 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In Millions)
Year Ended December 31, -------------------------------------------------------------- 2003 2002 2001 2000 1999 ----------- ------------ ------------ ----------- ----------- Consolidated pretax income (loss) from continuing operations $(35.2) $(57.3) $(28.7) $ 29.9 $ 10.6 Undistributed earnings of non-consolidated affiliates 0.1 (1.3) -- -- -- Interest expense 4.4 6.5 8.5 4.9 3.7 Interest portion of rental expense 8.6 9.4 6.8 7.3 6.0 ---------- ----------- ---------- ---------- ---------- Earnings $(22.1) $(42.7) $(13.4) $ 42.1 $ 20.3 ---------- ----------- ---------- ---------- ---------- Interest expense $ 4.4 $ 6.5 $ 8.5 $ 4.9 $ 3.7 Interest portion of rental expense 8.6 9.4 6.8 7.3 6.0 ---------- ----------- ---------- ---------- ---------- Fixed Charges $13.0 $15.9 $15.3 $ 12.2 $ 9.7 ========== =========== ========== ========== ========== RATIO OF EARNINGS TO FIXED CHARGES --(1) --(2) --(3) 3.5 2.1 ========== =========== ========== ========= ==========
(1) For the year ended December 31, 2003, earnings were inadequate to cover fixed charges. We would need an additional $35.1 million of earnings in order to cover our fixed charges. (2) For the year ended December 31, 2002, earnings were inadequate to cover fixed charges. We would need an additional $58.6 million of earnings in order to cover our fixed charges. (3) For the year ended December 31, 2001, earnings were inadequate to cover fixed charges. We would need an additional $28.7 million of earnings in order to cover our fixed charges.