POTLATCHDELTIC CORP - FORM 10-K - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

file	filename
10-K - FORM 10-K - POTLATCHDELTIC CORP	d10k.htm
EX-32 - SECTION 906 CERTIFICATIONS - POTLATCHDELTIC CORP	dex32.htm
EX-24 - POWERS OF ATTORNEY - POTLATCHDELTIC CORP	dex24.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - POTLATCHDELTIC CORP	dex23.htm
EX-21 - SUBSIDIARIES OF POTLATCH CORPORATION AS OF DECEMBER 31, 2009 - POTLATCHDELTIC CORP	dex21.htm
EX-31 - SECTION 302 CERTIFICATIONS - POTLATCHDELTIC CORP	dex31.htm
EX-10.(X) - POTLATCH CORPORATION MANAGEMENT DEFERRED COMPENSATION PLAN - POTLATCHDELTIC CORP	dex10x.htm

Exhibit (12)

POTLATCH CORPORATION

Computation of Ratio of Earnings to Fixed Charges

(In thousands)


	2009		2008		2007		2006		2005
Earnings from continuing operations before income taxes	$	64,783	$	47,742	$	56,911	$	79,473	$	58,468
Add:
Interest expense		20,856		20,825		17,711		16,120		16,457
Rental expense factor¹		862		1,008		848		843		824
Discount and loan expense amortization		1,136		613		593		578		471
Earnings available for fixed charges	$	87,637	$	70,188	$	76,063	$	97,014	$	76,220
Fixed charges:
Interest expense	$	20,856	$	20,825	$	17,711	$	16,120	$	16,457
Capitalized interest		—		—		—		—		—
Rental expense factor¹		862		1,008		848		843		824
Discount and loan expense amortization		1,136		613		593		578		471
Total fixed charges	$	22,854	$	22,446	$	19,152	$	17,541	$	17,752
Ratio of earnings to fixed charges		3.8		3.1		4.0		5.5		4.3

“Rental expense factor” is the portion of rental expense estimated to be representative of the interest factor within rental expense.

Certain 2005-2008 amounts have been reclassified to conform to the 2009 presentation. Also, see Note 18 to the consolidated financial statements.

POTLATCHDELTIC CORP - FORM 10-K - EX-12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - February 18, 2010