EX-12.1 2 a05-17886_1ex12d1.htm STATEMENTS REGARDING COMPUTATION OF RATIOS

Exhibit 12.1

 

 

 

(in thousands)

 

 

 

 

For the Three Months
Ended September 30,

 

For the Nine Months
Ended September 30,

 

 

 

2005

 

2004

 

2005

 

2004

 

Fixed Charges Computation:

 

 

 

 

 

 

 

 

 

Preferred stock dividend

 

$

976

 

$

740

 

$

1,854

 

$

1,512

 

Interest expense, including amortization of debt issuance costs

 

1,245

 

1,299

 

3,777

 

2,431

 

Total fixed charges and preferred dividends

 

$

2,221

 

$

2,039

 

$

5,631

 

$

3,943

 

Earnings Computation:

 

 

 

 

 

 

 

 

 

Earnings before income taxes, equity in income (loss) of investees and minority interests

 

$

12,672

 

$

10,004

 

$

29,786

 

$

26,656

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred stock dividend

 

 

(976

)

 

(740

)

 

(1,854

)

 

(1,512

)

Minority interests

 

 

(473

)

 

(13

)

 

(659

)

 

(13

)

Add:

 

 

 

 

 

 

 

 

 

Fixed charges

 

2,221

 

2,039

 

5,631

 

3,943

 

Earnings as adjusted

 

$

13,444

 

$

11,290

 

$

32,904

 

$

29,074

 

Ratio of earnings to fixed charges

 

10.8x

 

8.7x

 

8.7x

 

12.0x

 

Ratio of earnings to fixed charges and preferred dividends

 

6.1x

 

5.5x

 

5.8x

 

7.4x