EX-12.1 26 dex121.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

(Dollar amounts in thousands)

     Successor           Predecessor  
   Three-month
period ended
December 31, 2010
          Nine-month
period ended
September 30, 2010
    Years ended December 31,  
          
     2010           2010     2009     2008     2007     2006  

Earnings:

                

Income (loss) from continuing operations before income taxes

   $ (178       $ 60,185      $ 88,497      $ 73,450      $ 47,920      $ 45,008   

Less: Earnings from equity method investments

     —              (2,270     (3,508     (4,229     (2,799     (2,926

Plus: Dividends from equity method investees

     —              68        2,195        2,400        2,490        2,590   

Fixed charges

     14,205            2,285        2,781        2,808        2,981        3,544   
                                                    

Earnings adjusted for fixed charges

   $ 14,027          $ 60,268      $ 89,965      $ 74,429      $ 50,592      $ 48,216   
                                                    

Fixed charges:

                

Interest expense

   $ 13,436          $ 70      $ 91      $ 170      $ 376      $ 741   

Interest component of rent
expense (1)

     769            2,215        2,690        2,638        2,605        2,803   
                                                    

Total fixed charges

   $ 14,205          $ 2,285      $ 2,781      $ 2,808      $ 2,981      $ 3,544   
                                                    

Ratio of earnings to fixed charges

     (2)            26.38        32.34        26.51        16.97        13.60   
                                                    

 

(1) One-third of rent expense is deemed to be representative of interest.
(2) Our earnings were insufficient to cover fixed charges by $0.2 million for the three month period ended December 31, 2010.