<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>7
<FILENAME>bky1047593.txt
<DESCRIPTION>STATEMENT RE:  COMPUTATION OF RATIO OF EARNINGS
<TEXT>


<TABLE>
                                                                                                                       Exhibit 12.1
                                                                                                                       ------------

                                       Computation of Ratio of Earnings to Fixed Charges and
                             Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
                                                       (dollars in thousands)
<CAPTION>
                                                 Three Months                                Year Ended
                                                    Ended                                   December 31,
                                                  March 31,        ---------------------------------------------------------------
                                                     2002            2001          2000         1999          1998          1997
                                                 ------------      ---------     ---------    --------      --------     ---------
<S>                                                <C>             <C>           <C>          <C>           <C>          <C>
Income (loss) before income taxes,
   cumulative effect of change in accounting
   principle and extraordinary gain (loss),
   but after minority interest...........          $ 50,618        ($148,207)    $  38,689    ($79,814)     $ 64,225     $ 129,715

Add:
     Portion of rents representative of
       the interest factor...............             1,502            6,007         5,527       5,370         4,698         4,188
     Interest expense....................            11,135           45,719        47,596      50,801        48,819        48,869
                                                   --------        ---------     ---------    --------      --------     ---------

Income (loss) as adjusted................          $ 63,255        ($ 96,481)    $  91,812    ($23,643)     $117,742     $ 182,772
                                                   ========        =========     =========    ========      ========     =========

Fixed charges and preferred dividends:
     Interest expense....................          $ 11,135        $  45,719     $  47,596    $ 50,801      $ 48,819     $  48,869
     Preferred dividends.................                 0                0             0         497         8,268        10,266
     Portion of rents representative of
       the interest factor...............             1,502            6,007         5,527       5,370         4,698         4,188
                                                   --------        ---------     ---------  ----------      --------     ---------

       Total.............................          $ 12,637        $  51,726     $  53,123    $ 56,668      $ 61,785     $  63,323
                                                   ========        =========     =========    ========      ========     =========

Ratio of Earnings to Fixed Charges.......               5.0              N/A           1.7         N/A           2.2           3.4
                                                   ========        =========     =========    ========      ========     =========

Ratio of Earnings to Combined Fixed
   Charges and Preferred Stock Dividends.               5.0              N/A           1.7         N/A           1.9           2.9
                                                   ========        =========     =========    ========      ========     =========
</TABLE>



</TEXT>
</DOCUMENT>
