EX-12.1 8 d436729dex121.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Exhibit 12.1

Statement Regarding Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands)

 

     Year-Ended December, 31,      Nine Months Ended  

(unaudited)

    2011      2010     2009     2008      2007      September 30, 2012  

Earnings:

                

Income from continuing operations before income taxes

      $78,951         ($68,356 )      ($342,300 )      $123,372         $140,499         $63,728   

Fixed charges

      59,608         50,725        37,403        33,525         33,216         50,308   
  

 

 

     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Earnings

      $138,559         ($17,631 )      ($304,897 )      $156,897         $173,715         $114,036   
  

 

 

     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Fixed charges:

                

Rental expense

      $5,722         $4,254        $4,454        $6,759         $5,800         $4,798   

Interest expense

      53,886         46,471        32,949        26,766         27,416         45,510   
  

 

 

     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Fixed charges

      $59,608         $50,725        $37,403        $33,525         $33,216         $50,308   
  

 

 

     

 

 

    

 

 

    

 

 

     

 

 

     

 

 

  

Ratio of earnings to fixed charges

      2.3x           (a)        (a)      4.7x         5.2x         2.3x   

 

(a) Earnings were inadequate to cover fixed charges for the years ended December 31, 2010 and December 31, 2009 by $33.1 million and $266.3 million, respectively.