COMPUTATION OF RATIOS
Published on April 15, 2003
Exhibit 12
Statement re computation of ratios
2003 |
2002 |
2001 |
2000 |
1999 |
|
| Income before income taxes | 12,719 |
10,751 |
10,116 |
9,083 |
7,323 |
| Capitalized interest | (124) |
(130) |
(93) |
(57) |
(41) |
| Minority interest | (193) |
(183) |
(129) |
(170) |
(153) |
| Adjusted profit before tax | 12,402 |
10,438 |
9,894 |
8,856 * |
7,129 |
| Fixed Charges | |||||
| Debt interest | 803 |
1,083 |
1,104 |
779 |
535 |
| Capital lease interest | 260 |
274 |
279 |
266 |
268 |
| Capitalized interest | 124 |
130 |
93 |
57 |
41 |
| Interest component of rent | 873 |
834 |
714 |
458 |
523 |
| Amortization of Debt Issuance Cost | |||||
| Total fixed expense | 2,060 |
2,321 |
2,190 |
1,560 |
1,367 |
| Profit before taxes and fixed expenses | 14,462 |
12,759 |
12,084 |
10,416 |
8,496 |
| Fixed charge coverage | 7.02 |
5.50 |
5.52 |
6.68 |
6.22 |
* Does not include the cumulative effect of accounting change recorded by the Company in Fiscal 2000