Form: S-3/A

Registration statement for specified transactions by certain issuers

August 25, 2004

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S-3/A: Registration statement for specified transactions by certain issuers

Published on August 25, 2004


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Exhibit 12.2


STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

        The ratio of earnings to combined fixed charges and preferred stock dividends is set forth below. The ratio of earnings to combined fixed charges and preferred stock dividends was calculated in the same manner as the ratio of earnings to fixed charges (by adding net income (loss) from continuing operations to fixed charges and dividing that sum by such fixed charges), except that accrued preferred stock dividends were included for each of the periods shown irrespective of whether or not such dividends were actually paid.

 
   Year Ended December 31,
    
 
   For the Six Months Ended
June 30, 2004
 
   1999
   2000
   2001
   2002
   2003
 
   Unaudited (in thousands except ratios)
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS                                    
Interest expense   $ 42,947   $ 42,400   $ 33,204   $ 27,381   $ 23,388   $ 30,433
Preferred dividends     9,631     16,928     19,994     20,115     20,115     8,689
Preferred stock conversion charge     —     —     —     —     —     41,054
   
 
 
 
 
 
  Total fixed charges and preferred dividends   $ 52,578   $ 59,328   $ 53,198   $ 47,496   $ 43,503   $ 80,176
   
 
 
 
 
 
Ratio of earnings to combined fixed charges and preferred stock dividends     1.2x     *     *     *     1.1x     *
   
 
 
 
 
 
*
Our earnings were insufficient to cover combined fixed charges and preferred stock dividends by $60,178, $35,582, $23,859 and $53,612 in 2000, 2001, 2002 and the six months ended June 30, 2004, respectively.



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STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS