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Previous: HOLT GROUP INC, 10-K405, EX-10.62, 2000-08-04 |
Next: HOLT GROUP INC, 10-K405, EX-21, 2000-08-04 |
The following table sets forth the ratio of earnings to fixed charges of the
Company for the five years ended December 31, 1999 computed by dividing net
fixed charges (interest expense on all debt plus the interest element of
operating leases) into earnings (income before fixed charges). For the year
ended December 31, 1999, earnings were inadequate to cover fixed charges.
<TABLE>
<CAPTION>
Year ended December 31,
---------------------------------------------------------------------------
1999 1998 1997 1996 1995
--------- -------- -------- -------- --------
(Dollars in thousands)
<S> <C> <C> <C> <C> <C>
Net income (loss) $ (41,323) $ 8,786 $ 10,755 $ 8,299 $ 7,317
Interest charges 29,083 26,052 10,016 8,937 8,381
Amortization of financing costs 641 1,297 2,389 104 102
Interest portion of rental expense 15,723 13,513 5,226 2,592 2,335
--------- -------- -------- -------- --------
Earnings available to cover
fixed charges $ 4,124 $ 49,648 $ 28,386 $ 19,932 $ 18,135
========= ======== ======== ======== ========
Fixed charges
Interest charges 29,083 26,052 10,016 8,937 8,381
Amortization of financing costs 641 1,297 2,389 104 102
Interest portion of rental expense 15,723 13,513 5,226 2,592 2,335
--------- -------- -------- -------- --------
Total fixed charges $ 45,447 $ 40,862 $ 17,631 $ 11,633 $ 10,818
========= ======== ======== ======== ========
Ratio of earnings to fixed charges 1.22 1.61 1.71 1.68
</TABLE>
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