EX-12.1 4 g81688a1exv12w1.txt STATEMENT REGARDING COMPUTATION OF RATIOS . . . EXHIBIT 12.1 Statement Regarding Computation of Ratios
Years Ended December 31, ------------------------------------------------------- Pro Forma 1998 1999 2000 2001 2002 2002 ------- ------- --------- -------- -------- -------- Income from continuing operations before income taxes, minority interest, extraordinary charge and cumulative effect of accounting change .......... $39,260 $10,546 $(778,909) $ 14,699 $ 45,065 $ 39,508 Distributions from affiliates .......... 645 21,600 6,700 -- -- -- Equity (earnings) loss from affiliates . -- 7,092 21,438 358 153 153 Fixed charges .......................... 20,419 89,621 153,330 133,716 91,909 97,467 Less interest capitalized .............. (11,800) (37,700) (8,330) -- -- -- ------- ------- --------- -------- -------- -------- Earnings ............................... $48,524 $91,159 $(605,771) $148,773 $137,127 $137,128 ======= ======= ========= ======== ======== ======== Interest expense ....................... $ 7,009 $44,020 $ 129,316 $110,602 $ 80,093 $ 84,788 Capitalized interest ................... 11,800 37,700 8,330 -- -- -- Amortization of debt discount and premium and issuance expense ......... 1,610 7,901 15,684 23,114 11,816 12,679 ------- ------- --------- -------- -------- -------- Fixed charges .......................... $20,419 $89,621 $ 153,330 $133,716 $ 91,909 $ 97,467 ======= ======= ========= ======== ======== ======== Ratio of Earnings to Fixed Charges ..... 2.4x 1.0x N/A 1.1x 1.5x 1.4x ======= ======= ========= ======== ======== ========