EX-12.1 106 y04900exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Ratio of Earnings to Fixed Charges
                                                         
    March 31,     December 31,  
    2011     2010     2010     2009     2008     2007     2006  
Earnings:
                                                        
(a) pre-tax income (loss) from continuing operations before adjustment for income or loss from equity investees
     (44,776 )     18,027       105,098       40,177       46,706       273,523       20,395  
(b) fixed charges
     44,156       38,675       170,047       145,103       353,672       185,719       67,700  
(c) amortization of capitalized interest
     —       —       —       —       —       —       —  
(d) distributed income of equity investees
     6,126       5,377       22,197       18,944       13,250       678       583  
(e) share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges
     —       —       —       —       —       —       —  
Less:
                                                        
(a) Interest capitalized
     —     —       —       —       —       —       —  
(b) preference security dividend requirements of consolidated subsidiaries
     (27)       —       —       —       —       —       —  
(c) noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges
     —       —       —       —       —       —       —  
 
                                          
 
Total
     5,479       62,079       297,342       204,224       413,628       459,920       88,678  
 
                                          
 
Fixed charges:
                                                        
 
(a) Interest expensed and capitalized
     32,462       21,086       105,565       68,790       51,438       49,287       39,425  
(b)amortization of debt expense and discount or premium and capitalized expenses related to indebtedness
     1,331       1,614       11,752       6,682       2,077       1,856       8,004  
(c) an estimate of the interest within rental expense
     10,336       15,975       52,730       69,631       300,157       134,576       20,271  
(d) preference security dividend requirements of consolidated subsidiaries
     27       —       —       —       —       —       —  
 
                                          
 
Total
     44,156       38,675       170,047       145,103       353,672       185,719       67,700  
 
                                          
 
 
                                
Earnings to fixed charges
     (A )     1.61       1.75       1.41       1.17       2.48       1.31  
(A) Additional pre-tax income from continuing operations before adjustment for income or loss from equity investees of $38,667 would be necessary to generate a ratio of earnings to fixed charges of 1.00.