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Previous: MINN DAK FARMERS COOPERATIVE, 10-K405, 2000-11-29 |
Next: MINN DAK FARMERS COOPERATIVE, 10-K405, EX-23, 2000-11-29 |
EXHIBIT 12
MINN DAK FARMERS COOPERATIVE
COMPUTATION OF RATIO OF NET PROCEEDS TO FIXED CHARGES
(IN THOUSANDS)
<TABLE>
<CAPTION>
Year Ended August 31,
---------------------
2000 1999 1998 1997 1996
<S> <C> <C> <C> <C> <C>
Earnings:
Net proceeds before income taxes from continuing
operations 86,604 63,352 72,084 74,239 56,872
Fixed charges, excluding capitalized interest, see
below 5,199 5,264 5,372 4,316 2,898
Amortization of capitalized interest 94 94 92 55 18
------ ------ ------ ------ ------
Net Proceeds 91,897 68,710 77,548 78,610 59,788
====== ====== ====== ====== ======
Fixed Charges:
Interest Expense 5,199 5,264 5,372 4,316 2,898
Interest factor included in rentals (1) 0 0 0 0 0
------ ------ ------ ------ ------
Fixed charges, excluding capitalized interest 5,199 5,264 5,372 4,316 2,898
Interest capitalized 0 0 199 954 669
------ ------ ------ ------ ------
Fixed Charges 5,199 5,264 5,571 5,270 3,567
====== ====== ====== ====== ======
Ratio of net proceeds to fixed charges 17.68 13.05 13.92 14.92 16.76
====== ====== ====== ====== ======
</TABLE>
(1) The company does lease certain items, such as office equipment. Due to
the proportionately small amounts involved, interest on such lease
payments has not been included in the total of the company's fixed
charges of the calculation of this ratio.
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