EX-12.1 3 ex12-1.htm EXHIBIT 12.1 ex12-1.htm

EXHIBIT 12.1

Calculation of Ratio of Earnings to Fixed Charges


   
Year Ended December 31,
 
   
2004
   
2005
   
2006
   
2007
   
2008
 
   
(In thousands, except ratio of earnings to fixed charges)
 
Income from continuing operations before income taxes
  $ 43,919     $ 73,152     $ 191,428     $ 223,129     $ 160,904  
Fixed charges(1)
                                       
Interest expense
    1,661       6,022       6,800       7,106       7,369  
Amortization of debt issuance cost
    253       3,308       436       421       506  
Interest included in rental expense
    425       632       918       899        992  
Total fixed charges
  $ 2,339     $ 9,962     $ 8,154     $ 8,426     $  8,867  
Earnings(2)
  $ 46,258     $ 83,114     $ 199,582     $ 231,555     $ 169,771  
Ratio of earnings to fixed charges
    19.8       8.3       24.5       27.5       19.1  
 
     
(1)
Fixed charges consist of interest expense on indebtedness, amortization of debt issuance costs and the estimated portion of rental expense deemed a reasonable approximation of this interest factor.
(2)       Earnings consist of income from continuing operations before income taxes plus fixed charges.