EX-12.1 2 g88160a2exv12w1.htm EX-12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The following illustrates the computation of the ratio of earnings to fixed charges for the nine months ended September 30, 2004 and 2003 and the year ended December 31, 2003. The earnings for the years ended December 31, 2002 through 1999 were inadequate to cover total fixed charges. The coverage deficiencies for the years ended December 31, 2002 through 1999 were (in thousands): $63,192, $6,665,780, $3,082,114 and $287,992, respectively.

                         
    Nine months ended   Year ended
    September 30,
   December 31,
    2004
   2003
   2003
Earnings:            
Income from continuing operations before income taxes
   $ 22,624     $ 9,333     $ 20,745  
Add:
                        
Fixed charges
     19,639       15,342       21,709  
 
    
 		      
 		      
 		  
Pretax net income as adjusted
  $ 42,263     $ 24,675     $ 42,454  
 
    
 		      
 		      
 		  
Fixed charges:
                        
Interest (includes amortization of debt issuance costs)
   $ 14,429     $ 10,444     $ 15,214  
Interest factor in rent expense
     5,210       4,898       6,495  
 
    
 		      
 		      
 		  
Total fixed charges
  $ 19,639     $ 15,342     $ 21,709  
 
    
 		      
 		      
 		  
Ratio of earnings to fixed charges
    2.2       1.6       2.0