EX-12.1 7 g88158exv12w1.txt EX-12.1 STATEMENT REGARDING COMPUTATION OF RATIOS . . . EXHIBIT 12.1 STATEMENT REGARDING COMPUTATION OF RATIOS
YEARS ENDED DECEMBER 31, ---------------------------------------------------- 1999 2000 2001 2002 2003 -------- --------- -------- ------- -------- Income (loss) from continuing operations before income taxes, minority interest and cumulative effect of accounting change................................ $ 9,990 $(782,826) $ 13,318 $ 6,617 $ 90,203 Distributions from affiliates........... 21,600 6,700 -- -- -- Equity (earnings) loss from affiliates............................ 7,092 21,438 358 153 (119) Fixed charges........................... 89,621 153,330 133,718 91,910 78,948 Less interest capitalized............... (37,700) (8,330) -- -- (900) -------- --------- -------- ------- -------- Earnings................................ $ 90,603 $(609,688) $147,394 $98,680 $168,132 ======== ========= ======== ======= ======== Interest expense........................ $ 44,020 $ 129,316 $110,605 $80,094 $ 70,543 Interest capitalized.................... 37,700 8,330 -- -- 900 Amortization of debt discount and premium and issuance expense.......... 7,901 15,684 23,113 11,816 7,505 -------- --------- -------- ------- -------- Fixed charges........................... $ 89,621 $ 153,330 $133,718 $91,910 $ 78,948 ======== ========= ======== ======= ======== Ratio of Earnings to Fixed Charges...... 1.0x N/A 1.1x 1.1x 2.1x ======== ========= ======== ======= ========