EX-12.1 2 ex12-1.htm EXHIBIT 12.1 - CALCULATION ex12-1.htm




Exhibit 12.1
 
Calculation of Ratio of Earnings to Fixed Charges


   
Year Ended December 31,
 
 
 
2005
   
2006
   
2007
   
2008
   
2009
 
 
 
(In thousands, except ratio of earnings to fixed charges)
 
Income from continuing operations before income taxes
  $ 73,152     $ 191,428     $ 223,129     $ 160,904     $ 417  
Fixed charges(1)
                                       
Interest expense
    6,022       6,800       7,106       7,369       7,119  
Amortization of debt issuance cost
    3,308       436       421       506       399  
Interest included in rental expense
    632       918       899        992       1,071  
Total fixed charges
  $ 9,962     $ 8,154     $ 8,426     $  8,867     $  8,589  
Earnings(2)
  $ 83,114     $ 199,582     $ 231,555     $ 169,771     $ 9,006  
Ratio of earnings to fixed charges
    8.3       24.5       27.5       19.1       1.1  
 
    
(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.