EX-12.1 3 k68278a3exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EXHIBIT 12.1 STATEMENT RE: COMPUTATION OF EARNINGS TO FIXED CHARGES (Dollars in thousands)
Nine Months Ended Year Ended December 31, September 30, ----------------------------------------------------- -------------------- 1997 1998 1999 2000 2001 2001 2002 -------- -------- -------- -------- -------- -------- -------- Income (loss) from continuing operations before minority interests, taxes and extraordinary items ($11,778) $ 22,654 $ 46,038 $ 60,836 $ 79,227 $ 58,815 $104,359 -------- -------- -------- -------- -------- -------- -------- Plus: Fixed charges: Interest expense (including amortization of deferred financing costs) 14,071 31,373 29,260 32,734 34,762 27,217 27,834 Capitalized interest 0 0 0 725 1,734 1,138 1,660 Interest factor in rental expense 7,461 8,713 9,090 10,901 14,998 11,331 13,719 Preferred dividends 0 0 0 8,981 13,269 12,110 12,051 -------- -------- -------- -------- -------- -------- -------- Total fixed charges 21,532 40,086 38,350 53,341 64,673 51,796 55,264 -------- -------- -------- -------- -------- -------- -------- Less: Capitalized interest 0 0 0 725 1,734 1,138 1,660 Preferred dividends 0 0 0 8,981 13,269 12,110 12,051 -------- -------- -------- -------- -------- -------- -------- Earnings $ 9,754 $ 62,740 $ 84,388 $104,471 $128,987 $ 97,363 $145,912 ======== ======== ======== ======== ======== ======== ======== Ratio (shortfall) of earnings to fixed charges (11,778) 1.57 2.20 1.96 1.99 1.88 2.64 ======== ======== ======== ======== ======== ======== ========