EX-12.1 6 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement regarding computation of ratio of earnings to fixed charges

Exhibit 12.1

 

Calculating Ratio of Earnings to Fixed Charges: (in thousands)

    Six months
ended
June 30, 2008		     Year Ended December 31,  
     2007     2006     2005     2004     2003  

Earnings

             

Pre tax income

    46,632     36,955     130,077     774     24,913     1,163  

Fixed charges

    60,660     61,104     42,788     27,790     9,265     2,589  

Amortization of capitalized interest

    346     567     262     127     82     —    

Less interest capitalized

    (26,925 )   (23,335 )   (3,622 )   (3,534 )   (11 )   (1,721 )
                                    
   80,713     75,291     169,505     25,157     34,249     2,031  
                                    

Fixed Charges

             

Interest expensed, includes amortization of discounts related to debt and amortization of capitalized expenses related to debt

    26,314     33,376     37,871     7,609     8,892     839  

Loss on extinguishment of debt

    —       —       —       15,744     —       —    

Interest capitalized

    26,925     23,335     3,622     3,534     11     1,721  

Estimate of interest within rental expense

    7,421     4,393     1,295     903     362     29  
                                    
   60,660     61,104     42,788     27,790     9,265     2,589  
                                    

Ratio of Earnings to Fixed Charges

    1.33     1.23     3.96     0.91     3.70     0.78