EX-12.1 3 a2132397zex-12_1.htm EX-12.1
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Exhibit 12.1

 
   Year Ended December 31,
  
(in thousands)

   1998
   1999
   2000
   2001
   2002
   2003
  
Fixed Charges Computation:                                      
Preferred stock dividend   $ —   $ —   $ 14,382   $ 8,563   $ 2,344   $ 1,490  

Interest expense, including amortization of debt issuance costs, on convertible debt
 
 
—
 
 
—
 
 
—
 
 
—
 
 
—
 
 
863
 
   
 
 
 
 
 
 
  Total fixed charges and preferred dividends     —     —     14,382     8,563     2,344     2,353  

Earnings Computation:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Loss) profit before equity in income of investee     (114,426 )   (1,063,444 )   (329,527 )   (16,417 )   (22,659 )   8,094  
Add:                                      
  Fixed charges     —     —     14,382     8,563     2,344     2,353  
   
 
 
 
 
 
 
  Earnings as adjusted   $ (114,426 ) $ (1,063,444 ) $ (315,145 ) $ (7,854 ) $ (20,315 ) $ 10,447  
   
 
 
 
 
 
 

Ratio of earning to fixed charges (a)
 
 
N/A
 
 
N/A
 
 
N/A
 
 
N/A
 
 
N/A
 
 
12.1
x

Ratio of earning to fixed charges and preferred dividends (a)
 
 
N/A
 
 
N/A
 
 
N/A
 
 
N/A
 
 
N/A
 
 
4.4
x
(a)
For the years ended December 31, 2000, 2001 and 2002 earnings were not sufficient to cover fixed charges plus preferred dividends by approximately $329.5 million, $16.4 million and $22.7 million. respectively.


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