EX-12.1 3 dex121.htm COMPUTATIONS OF RATIO OF EARNINGS TO FIXED CHARGES Computations of Ratio of Earnings to Fixed Charges

Exhibit 12.1 Ratio of Earnings To Fixed Charges

 

     Year Ended December 31,

 
     2003

    2002

    2001

    2000

    1999

 
     (amounts in thousands)  

Net Income (loss)

   $ 35,282     $ (149,132 )   $ (567,277 )   $ (1,411,273 )   $ (719,968 )

Equity in losses of equity-method investees

     436       4,169       30,327       304,596       76,769  
    


 


 


 


 


Net Income (loss) before equity in losses of equity-method investees

     35,718       (144,963 )     (536,950 )     (1,106,677 )     (643,199 )
    


 


 


 


 


Plus fixed charges:

                                        

Interest expense including amortization of debt issuance costs

     129,979       142,925       139,232       130,921       84,566  

Assumed interest element included in rent expense

     5,718       6,205       8,880       10,773       4,732  
    


 


 


 


 


       135,697       149,130       148,112       141,694       89,298  
    


 


 


 


 


Adjusted earnings (loss)

     171,415       4,167       (388,838 )     (964,983 )     (553,901 )

Fixed charges

     (135,697 )     (149,130 )     (148,112 )     (141,694 )     (89,298 )
    


 


 


 


 


Excess (deficiency) of earnings to cover fixed charges

   $ 35,718     $ (144,963 )   $ (536,950 )   $ (1,106,677 )   $ (643,199 )
    


 


 


 


 


Ratio of earnings to fixed charges (1)

     1.26       0.03       (2.63 )     (6.81 )     (6.20 )

 

(1) The ratio of earnings to fixed charges is computed by dividing (i) income (loss) before income taxes and losses from equity interests, plus fixed charges by (ii) fixed charges.