EX-12.1 6 g83127exv12w1.txt EX-12.1 - COMPUTATION OF RATIO OF EARNINGS . . . EXHIBIT 12.1 - STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS)
Pro Forma Three Months Three Months Pro Forma Ended March 31, Ended Year Ended December 31, Year Ended ---------------- March 31, --------------------------------------- December 31, 2003 2002 2003 (1) 2002 2001 2000 1999 1998 2002 (1) ---- ---- ----------- ---- ---- ---- ---- ---- ------------ Earnings Income (loss) from continuing operations before provision for income taxes and extraordinary item $16,419 $19,486 $14,456 $60,187 $56,738 $34,675 $25,649 $17,934 $51,321 Interest and amortization of deferred finance costs 5,859 4,196 7,822 21,957 12,090 16,657 13,901 10,555 30,823 Implicit rental interest expense 730 689 730 2,713 2,412 2,006 2,016 1,618 2,713 ------------------------------ -------------------------------------------------------- Total earnings 23,008 24,371 23,008 84,857 71,240 53,338 41,566 30,107 84,857 ------------------------------ -------------------------------------------------------- Fixed Charges Interest and amortization of deferred finance costs 5,859 4,196 7,822 21,957 12,090 16,657 13,901 10,555 30,823 Capitalized interest 142 404 142 942 1,348 1,036 410 288 942 Implicit rental interest expense 730 689 730 2,713 2,412 2,006 2,016 1,618 2,713 ------------------------------ -------------------------------------------------------- Total fixed charges $ 6,731 $ 5,289 $ 8,694 $25,612 $15,850 $19,699 $16,327 $12,461 $34,478 ------------------------------ -------------------------------------------------------- Ratio of earnings to fixed charges 3.42 4.61 2.65 3.31 4.49 2.71 2.55 2.42 2.46 ============================== ========================================================
(1) The pro forma ratio of earnings to fixed charges gives effect to the net decrease in the interest expense resulting from the sale of the Notes offered hereby and the application of the estimated proceeds thereof to the repayment of existing debt, as if such transactions had occurred at the beginning of the periods presented; such ratio does not give effect to any other pro forma events. The ratio has been computed using an assumed interest rate of 7 1/2%.