Exhibit 12.1

Ratio of Earnings to Fixed Charges

	1Q04			1Q03			2003			2002
Interest expense, net		10.4			1.9			50.9			2.6
Income (loss) before Income taxes		76.1			(3.9	)		(47.4	)		114.0
Fixed Charges
Interest costs, expensed		10.4			1.9			50.9			2.6
Interest costs, capitalized		0.1			—			0.4			0.3
Portion of rental expense (1/3)		2.7			—			7.9			0.1
Earnings to cover preferred stock		—			—			—			—
Guarantee of joint venture		—			—			—			—
Fixed charges		13.2			1.9			59.2			3.0
Earnings
Pre-tax income (loss)		76.1			(3.9	)		(47.4	)		114.0
Fixed Charges		13.2			1.9			59.2			3.0
Equity company adjustments (income) loss		(0.6	)		(0.3	)		(1.1	)		(7.0	)
Dividends from joint ventures		1.9			—			0.7			7.4
Preferred dividends		—			—			—			—
Earnings		90.6			(2.3	)		11.4			117.4
Shortfall		77.4			(4.2	)		(47.8	)		114.4
Ratio of earnings to fixed charges		6.9			(1.2	)		0.2			39.6