EX-12.1 3 exhibit12-1_11804.txt COMPUTATION OF EARNINGS PER SHARE EXHIBIT 12.1 STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (In thousands)
YEAR ENDED DECEMBER 31, 1998 1999 2000 2001 2002 ------------------------------------------------------------ Earnings: Income before income taxes $ 6,334 $ 20,151 $ 47,499 $ 50,340 $ 88,579 Fixed charges per below 5,420 12,142 29,453 31,093 33,839 Less: capitalized interest per below -- -- 8 213 218 Current period amortization of interest capitalized in prior periods -- -- -- -- -- ------------------------------------------------------------ Total earnings $ 11,754 $ 32,293 $ 76,944 $ 81,220 $122,200 ============================================================ Fixed charges and preferred stock dividends: Interest expense $ 3,458 $ 11,531 $ 28,705 $ 30,045 $ 32,228 Capitalized interest -- -- 8 213 218 Interest portion of rent expense 197 611 740 835 1,393 Preferred dividend requirements 1,765 -- -- -- -- ------------------------------------------------------------ Total fixed charges and preferred stock dividends $ 5,420 $ 12,142 $ 29,453 $ 31,093 $ 33,839 ============================================================ Ratio of earnings to combined fixed charges and preferred stock 2.2 2.7 2.6 2.6 3.6 ============================================================