EX-12.1 4 a2131242zex-12_1.htm EXHIBIT 12.1
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EXHIBIT 12.1


STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
  Year Ended December 31,
 
 
  1999
  2000
  2001
  2002
  2003
 
EARNINGS                      
  Income from continuing operations before income from equity investees(1)   (103,360 ) 77,502   43,671   64,836   59,295  
  Add: Fixed Charges   25,974   33,283   34,409   36,157   42,622  
    Distributed income of equity investees           395  
  Subtract: Capitalized Interest       (153 ) (773 ) (524 )
   
 
 
 
 
 
  Total Earnings   (77,386 ) 110,785   77,927   100,220   101,788  
   
 
 
 
 
 
FIXED CHARGES                      
  Interest Expensed and Capitalized   21,139   28,691   29,235   29,830   35,750  
  Amortization of Debt Expense   2,201   2,051   2,667   3,676   3,787  
  Portion of rent expense related to interest (33%)   2,634   2,541   2,507   2,651   3,085  
   
 
 
 
 
 
  Total Fixed Charges   25,974   33,283   34,409   36,157   42,622  
   
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES(2)     3.33 x 2.26 x 2.77 x 2.39 x
   
 
 
 
 
 

(1)
The 1999 and 2000 periods include losses of $1.5 million and $15.1 million, respectively, related to early extinguishment of debt previously classified as extraordinary items. Effective with the FASB's issuance of SFAS 145, "Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections "in April 2002, such items are included in income from continuing operations.

(2)
In 1999 available earnings failed to cover fixed charges by $103.4 million.



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STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES