EX-12.1 15 y11840exv12w1.txt EX-12.1: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . Exhibit 12.1 COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES (IN THOUSANDS)
Predecessor --------------------------------------------------------------------------- 1 Month | 11 Months Period Jan 1 - Ended | Ended October 29, Jan 31, 2003 | Dec 31, 2003 2001 2002 2003 2004 Adjusted pre-tax income from operations (a) (13,011) | (5,751) 21.488 27,432 32,064 54,472 | Fixed Charges: | Interest expense 63 | 1,386 2,328 4,299 2,854 1,588 Net amortization of indebtedness -- | -- -- -- -- -- Rentals (b) 418 | 4,603 5,075 5,109 4,547 3,560 ------- | ------- ------ ------ ------ ------- Total Fixed charges (c) 481 | 5,989 7,403 9,408 7,401 5,148 ------- | ------- ------ ------ ------ ------- Earning before income taxes and fixed charges (12,530) | 238 28,891 36,840 39,465 59,620 ------- | ------- ------ ------ ------ ------- | Ratio of Earnings to Fixed Charges (d) - x | - x 3.9 x 3.9 x 5.3 x 11.6 x | Deficiency (e) 13,011 | 5,751 -- -- -- --
Predecessor | Successor ------------------------------------------------ Nine Months | Period Oct 30 - Nine Months Proforma Proforma Ended | December 31 Ended Year Ended Nine Months Ended Sept 30, 2004 | 2004 Sept 30, 2005 Dec 31, 2004 Sept 30, 2005 Adjusted pre-tax income from operations (a) 43,375 | 15,194 15,876 12,075 29,288 | Fixed Charges: | Interest expense 1,937 | 9,978 38,641 55,171 35,932 Net amortization of indebtedness -- | 730 8,677 4,205 6,756 Rentals (b) 3,051 | 508 3,051 4,068 3,051 ------- | ------- ------- ------- ------- Total Fixed charges (c) 4,988 | 11,216 50,369 63,444 45,739 ------- | ------- ------- ------- ------- Earning before income taxes and fixed charges 48,363 | 26,410 66,245 75,519 75,027 ------- | ------- ------- ------- ------- | Ratio of Earnings to Fixed Charges (d) 9.7 x | 2.4 x 1.3 x 1.2 x 1.6 x | Deficiency (e) -- | -- -- -- --
(a) For this purpose. earnings include pre-tax income from continuing operations before equity earnings (losses) in partially-owned affiliates and minority interest. (b) The Company uses one-third of rental expense as an estimation of the interest factor on its rental expense. (c) Fixed charges include interest, whether expensed or capitalized. and an estimate of interest within rental expense. (d) The ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. (e) The deficiencies for the periods where earnings were inadequate to cover fixed changes are noted in the schedule above.