EX-12.1 2 d59108exv12w1.htm STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
                                                         
                                            Six Months  
    Year Ended December 31,     Ended June 30,  
    2007     2006     2005     2004     2003     2008     2007  
    (In thousands)  
(Loss) income before income taxes and minority interest
  $ (186,304 )   $ (92,786 )   $ (37,463 )   $ (41,335 )   $ 17,355     $ 39,842     $ (777 )
Plus fixed charges:
                                                       
Interest expense, net
    209,687       206,951       184,362       140,500       96,586       92,688       107,700  
Capitalized interest
    5,715       9,482       6,070       1,758       1,638       2,385       2,620  
Portion of rent expense representative of interest expense
    18,573       18,096       16,352       10,802       7,949       9,160       9,214  
Plus amortization of capitalized interest
    2,777       2,253       1,464       1,418       1,339       1,539       1,389  
Less capitalized interest
    (5,715 )     (9,482 )     (6,070 )     (1,758 )     (1,638 )     (2,385 )     (2,620 )
 
                                         
Adjusted earnings
  $ 44,733     $ 134,514     $ 164,715     $ 111,385     $ 123,229     $ 143,229     $ 117,526  
Fixed charges
  $ 233,975     $ 234,529     $ 206,784     $ 153,060     $ 106,173     $ 104,233     $ 119,534  
Ratio of earnings to fixed charges
                            1.2       1.4        
Deficiency of earnings to cover fixed charges
  $ 189,242     $ 100,015     $ 42,069     $ 41,675     $     $     $ 2,008