EX-12.1 2 a09-33617_1ex12d1.htm EX-12.1

Exhibit 12.1

 

 

 

Ratio of Earnings to Fixed Charges

 

 

 

Year Ended December 31,

 

 

 

2008

 

2007

 

2006

 

2005

 

2004

 

 

 

 

 

 

 

 

 

 

 

 

 

Pretax income from continuing operations

 

$

143,527

 

$

560,235

 

$

446,363

 

$

326,908

 

$

237,659

 

Less: (Income) loss from equity method investments

 

97,142

 

(58,197

)

(38,318

)

(26,971

)

(1,265

)

Add: Fixed charges

 

88,746

 

91,343

 

72,736

 

52,291

 

44,252

 

         Distributed equity method income

 

80,487

 

53,612

 

46,033

 

16,565

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings available for fixed charges

 

$

409,902

 

$

646,993

 

$

526,814

 

$

368,793

 

$

280,646

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

$

77,233

 

$

81,535

 

$

63,601

 

$

41,599

 

$

35,226

 

FIN 48 Interest Expense

 

346

 

116

 

—

 

—

 

—

 

Amortization of debt issuance costs

 

4,192

 

2,931

 

2,610

 

2,834

 

3,457

 

Estimated portion of rental expense equivalent to interest

 

6,975

 

6,761

 

6,525

 

7,858

 

5,569

 

Total fixed charges

 

$

88,746

 

$

91,343

 

$

72,736

 

$

52,291

 

$

44,252

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

4.6x

 

7.1x

 

7.2x

 

7.1x

 

6.3x