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

Exhibit 12.1

 

Ratio of Earnings To Fixed Charges

 

     Year Ended December 31,

 
     2004

    2003

    2002

    2001

    2000

 
     (amounts in thousands)  

Income (loss) before income taxes

   $ 355,870     $ 38,988     $ (150,633 )   $ (566,733 )   $ (1,406,169 )

Equity in losses of equity-method investees

     —         436       4,169       30,327       304,596  
    


 


 


 


 


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

     355,870       39,424       (146,464 )     (536,406 )     (1,101,573 )
    


 


 


 


 


Plus fixed charges:

                                        

Interest expense including amortization of debt issuance costs

     107,227       129,979       142,925       139,232       130,921  

Assumed interest element included in rent expense

     3,881       5,718       6,205       8,880       10,773  
    


 


 


 


 


       111,108       135,697       149,130       148,112       141,694  
    


 


 


 


 


Adjusted earnings (loss)

     466,978       175,121       2,666       (388,294 )     (959,879 )

Fixed charges

     (111,108 )     (135,697 )     (149,130 )     (148,112 )     (141,694 )
    


 


 


 


 


Excess (deficiency) of earnings to cover fixed charges

   $ 355,870     $ 39,424     $ (146,464 )   $ (536,406 )   $ (1,101,573 )
    


 


 


 


 


Ratio of earnings to fixed charges (1)

     4.20       1.29       0.02       (2.62 )     (6.77 )

(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.