EX-12.1 3 e06032exv12w1.htm EX-12.1: COMPUTATION OF EARNINGS TO FIXED CHARGES EX-12.1
 

Exhibit 12.1
COMPUTATION OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
                                                                 
                                                           
    Six Months Ended June 30,     Fiscal Year Ended December 31,    
    2005     2004     2004     2003     2002     2001     2000    
Income from continuing operations before
income taxes
  $ 2,133     $ 27,010     $ 82,958     $ 34,741     $ 21,546     $ 6,222     $ 27,474
Add: fixed charges from below
    37,155       17,257       34,025       19,757       20,488       27,981       36,924
 
                                       
Earnings before fixed charges
    39,288       44,267       116,983       54,498       42,034       34,203       64,398
Interest expense (including amortization of
debt issue costs)
    31,507       12,464       24,458       11,124       12,055       20,581       30,891
Capitalized interest
                                       
Interest component of operating leases
    5,648       4,793       9,567       8,633       8,433       7,400       6,033
 
                                       
Fixed charges
    37,155       17,257       34,025       19,757       20,488       27,981       36,924
Ratio of earnings to fixed charges
    1.06 x     2.57 x     3.44 x     2.76 x     2.05 x     1.22 x     1.74 x
 
(a)   For purposes of calculating the ratio of earnings to fixed charges, earnings are defined as income from continuing operations before income taxes plus fixed charges. Fixed charges include interest expense (including amortization of deferred financing costs) and an estimate of operating rental expense, approximately 33%, which management believes is representative of the interest component.