EX-12.1 36 a2158564zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

 

Computation of Ratio of Earnings to Fixed Charges

 

 

 

Year Ended December 31,

 

 

 

Three Months
Ended March 31,
2005

 

2004

 

2003

 

2002

 

2001

 

2000

 

 

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income before income taxes and minority interest

 

$

(567

)

$

(41,335

)

$

17,355

 

$

13,277

 

$

(43,137

)

$

(45,818

)

Plus fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, net

 

42,774

 

140,500

 

96,586

 

81,784

 

98,440

 

101,693

 

Capitalized interest

 

625

 

1,758

 

1,638

 

1,525

 

2,570

 

4,182

 

Portion of rent expense representative of interest expense

 

4,167

 

10,802

 

7,949

 

7,635

 

7,388

 

6,620

 

Plus loss (income) from equity investees

 

—

 

—

 

—

 

—

 

246

 

(63

)

Plus amortization of capitalized interest

 

352

 

1,418

 

1,339

 

1,252

 

1,236

 

935

 

Less capitalized interest

 

(625

)

(1,758

)

(1,638

)

(1,525

)

(2,570

)

(4,182

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings

 

46,726

 

111,385

 

123,229

 

103,948

 

64,173

 

63,367

 

Fixed charges

 

$

47,566

 

$

153,060

 

$

106,173

 

$

90,944

 

$

108,398

 

$

112,495

 

Ratio of earnings to fixed charges

 

0.98

 

—

 

1.2

 

1.1

 

—

 

—

 

Deficiency of earnings to cover fixed charges

 

$

(840

)

$

41,675

 

—

 

—

 

$

44,225

 

$

49,128