EX-12 2 exhibit121.htm CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

 

 

 

Three Months

 

 

 

 

Ended

Fiscal Years Ending

 

 

 

Dec. 31,

Restated

 

 

 

 

 

 

 

2005

2005

2004

2003

2002

2001

 

 

 

 

 

 

 

 

 

Net income for the period

 

 

38,968 

372,421 

402,907 

337,408 

382,727 

87,859 

Add: Provision for income taxes

 

 

20,833 

155,770 

232,392 

185,493 

210,237 

58,362 

Add: Minority interest

 

 

(64)

(120)

(68)

248 

(97)

18,750 

Fixed charges

 

 

66,275 

276,974 

314,681 

337,164 

351,622 

175,457 

Less: Capitalized interest

 

 

(2,875)

(6,490)

(3,491)

(3,325)

(9,264)

(3,249)

Income before taxes on income and fixed charges

 

 

123,137 

798,555 

946,421 

856,988 

935,225 

337,179 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

Interest

 

 

51,711 

225,536 

268,438 

294,175 

296,983 

143,718 

Capitalized interest

 

 

2,875 

6,490 

3,491 

3,325 

9,264 

3,249 

Rentals at computed interest factor (1)

 

 

10,930 

38,805 

37,010 

34,730 

37,504 

25,343 

Amortization of debt discount expense

 

 

759 

6,143 

5,742 

4,934 

7,871 

3,147 

Total fixed charges

 

 

66,275 

276,974 

314,681 

337,164 

351,622 

175,457 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

 

1.86 

2.88 

3.01 

2.54 

2.66 

1.92 

 

(1)

Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs.

 

 

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