EX-12 3 cmw1357a.htm COMPUTATION OF RATIOS

EXHIBIT 12

Calculation of Ratio of Earnings (Losses) to Fixed Charges
(in thousands, except ratios)

The following table sets forth our historical ratio of earnings (losses) to fixed charges for the periods indicated:

Year Ended December 31,
2000
2001
2002
2003
2004
Earnings (losses):                        
Income (loss) before provision for (benefit of) income  
   taxes, cumulative effect of accounting changes   $(7,315 ) $(30,448 ) $(120,268 ) $(316,791 ) $(25,137 )
Add:  
Amortized premiums, discounts and capitalized   
   expenses related to debt    0    0    0    483    1,007  
Interest expense    6,453    3,783    1,312    2,367    634  
Operating lease interest    10,104    13,125    11,627    12,168    10,637  





Total earnings (losses) available for fixed charges   $9,242   $(13,540 ) $(107,329 ) $(301,773 ) $(12,859 )






Fixed charges
  
Interest expense   $6,453   $3,783   $1,312   $2,367   $634  
Amortized premiums, discounts and capitalized   
   expenses related to debt    0    0    0    483    1,007  
Operating lease interest    10,104    13,125    11,627    12,168    10,637  





Total fixed charges   $16,557   $16,908   $12,939   $15,018   $12,278  






      Ratio of earnings (losses) to fixed charges
    0.6    (a)    (a)    (a)    (a)  

(a) The earnings for the years ended December 31, 2004, 2003, 2002 and 2001 were inadequate to cover total fixed charges. The coverage deficiencies for the years ended December 31, 2004, 2003, 2002 and 2001 were (in thousands): $25,137, $316,791, $120,268 and $30,448, respectively.