EX-12.1 202 a2187815zex-12_1.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS

EXHIBIT 12.1

 

Ratios of Earnings to Fixed Charges

 

For the purpose of calculating the ratio of earnings to fixed charges, earnings are defined as earnings (loss) from continuing operations before income taxes, plus fixed charges, excluding capitalized interest, plus amortization of capitalized interest. Fixed charges are defined as interest expensed and capitalized, plus amortization of premiums, discounts and capitalized expenses related to indebtedness, plus an estimate of the interest within rental expense.

 

 

 

Years Ended December 31,

 

January 1 to
August 23,

 

August 24 to
December 31,

 

Six Months
ended June 31,

 

Pro Forma
Year ended
December 31,

 

Pro Forma Six
Months ended
June 30,

 

Pro Forma
(Supplement)
Year Ended
December 31,

 

Pro Forma
(Supplement)
Six Months
ended June 30

 

 

 

2003

 

2004

 

2005

 

2006

 

2007

 

2007

 

2008

 

2007

 

2008

 

2007

 

2008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) income before income taxes and discontinued operations

 

15,354

 

21,936

 

27,949

 

31,830

 

2,279

 

(3,734

)

(967

)

(2,831

)

(5,552

)

(7,496

)

(3,091

)

Add back minority interests

 

10,447

 

15,629

 

24,952

 

28,294

 

15,656

 

7,685

 

12,845

 

23,341

 

12,845

 

23,675

 

12,813

 

Add back fixed charges

 

6,762

 

16,829

 

6,264

 

8,699

 

6,335

 

15,396

 

22,198

 

23,167

 

26,783

 

50,245

 

25,988

 

Total earnings

 

32,563

 

54,394

 

59,165

 

68,823

 

24,270

 

19,347

 

34,076

 

43,677

 

34,076

 

66,424

 

35,710

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

5,257

 

14,236

 

4,213

 

6,602

 

4,906

 

12,891

 

17,738

 

20,366

 

24,490

 

45,964

 

23,688

 

Rent expense equivalent to interest expense

 

980

 

1,200

 

1,380

 

1,591

 

1,107

 

633

 

994

 

1,740

 

994

 

1,854

 

1,001

 

Amortization of deferred financing costs

 

525

 

1,393

 

671

 

506

 

322

 

1,872

 

3,466

 

1,061

 

1,299

 

2,427

 

1,299

 

Total fixed charges

 

6,762

 

16,829

 

6,264

 

8,699

 

6,335

 

15,396

 

22,198

 

23,167

 

26,783

 

50,245

 

25,988

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of historical earnings to fixed charges

 

4.82

3.23

9.45

7.91

3.83

1.26

1.54

1.89

 

1.27

 

1.32

1.37