EX-12.1 5 k68278a2exv12w1.txt RATIO OF EARNINGS OF FIXED CHARGES EXHIBIT 12.1 STATEMENT RE: COMPUTATION OF EARNINGS TO FIXED CHARGES (Dollars in thousands)
Three Months Ended Year Ended December 31, March 31, ----------------------------------------------------- -------------------- 1997 1998 1999 2000 2001 2001 2002 -------- -------- -------- -------- -------- -------- -------- Income (loss) before minority interests, taxes and extraordinary items ($11,778) $ 25,194 $ 48,846 $ 61,070 $ 80,635 $ 11,650 $ 26,701 -------- -------- -------- -------- -------- -------- -------- Plus: Fixed charges: Interest expense (including amortization of deferred financing costs) 14,071 31,462 29,344 32,777 34,790 9,668 7,872 Capitalized interest 0 0 0 725 1,734 357 577 Interest factor in rental expense 7,461 8,610 9,733 11,587 15,739 3,565 4,389 Preferred dividends 0 0 0 8,981 13,269 3,409 4,502 -------- -------- -------- -------- -------- -------- -------- Total fixed charges 21,532 40,072 39,077 54,070 65,532 16,999 17,339 -------- -------- -------- -------- -------- -------- -------- Less: Capitalized interest 0 0 0 725 1,734 357 577 Preferred dividends 0 0 0 8,981 13,269 3,409 4,502 -------- -------- -------- -------- -------- -------- -------- Earnings $ 9,754 $ 65,266 $ 87,923 $105,434 $131,164 $ 24,883 $ 38,962 ======== ======== ======== ======== ======== ======== ======== Ratio (shortfall) of earnings to fixed charges (11,778) 1.63 2.25 1.95 2.00 1.46 2.25 ======== ======== ======== ======== ======== ======== ========