EX-12.1 2 h19465a1exv12w1.txt COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
NINE MONTHS ENDED SEPTEMBER 30, YEARS ENDED DECEMBER 31, ------------------- ------------------------------------------------------ 2004 2003 2003 2002 2001 2000 1999 ------ ------ ------ ------- ------- ------ ------ Ratio of Earnings to Fixed Charges 1.39 1.33 1.35 (a) (a) 1.02 1.69 Ratio of Earnings to Fixed Charges and Preferred Stock Dividends 1.39 1.33 1.35 (a) (a) 1.02 1.69 Earnings: Income (Loss) Before Provision (Benefit) for Income Taxes and Equity in Net Income of Unconsolidated Entities 3,225 5,689 7,925 (760) (99,442) 869 23,209 Distributions from Unconsolidated Entities 2,600 -- -- -- -- -- -- ------ ------ ------ ------- ------- ------ ------ Total Earnings 5,825 5,689 7,925 (760) (99,442) 869 23,209 Fixed Charges: Interest Expense 7,922 9,614 12,514 17,706 26,737 33,764 32,102 Implicit Interest on Operating Leases 6,616 6,990 9,258 9,208 5,932 833 -- Amortization of Financing Charges 396 449 578 886 814 1,242 1,761 ------ ------ ------ ------- ------- ------ ------ Total Fixed Charges 14,934 17,053 22,350 27,800 33,483 35,839 33,863 Earnings Before Fixed Charges 20,759 22,742 30,275 27,040 (65,959) 36,708 57,072 Preferred Stock Dividends -- -- -- -- -- -- --
(a) Earnings were insufficient to cover fixed charges for the years ended December 31, 2002 and 2001.