EX-12.1 5 e604735_ex12-1.htm Unassociated Document

Exhibit 12.1

Ratio of Earnings to Combined Fixed Charges
         
Year Ended December 31,
 
             
   
Nine Months Ended
September 30, 2008
   
 2007
     
2006
     
2005
     
2004
     
2003
 
   
(in 000s except ratio data)
 
                                     
Earnings
                                   
 
Earnings from Continuing Operations before minority interest
  $ (15,386 )   $ 2,024     $ 45,584     $ 23,269     $ 1,944     $ (6,575 )
Interest Expense
    17,110       31,477       31,092       20,972       2,440       4,552  
Equity investment adjustment (1)
    24,886       (1,574 )     (135 )     (794 )            
Amortization Expense Debt Cost
    201       304       223       119       254       63  
                                                 
Total
  $ 26,811     $ 32,231     $ 76,764     $ 43,566     $ 4,638     $ (1,960 )
                                                 
Fixed Charges
                                               
 
Interest Expense
  $ 17,110     $ 31,477     $ 31,092     $ 20,972     $ 2,440     $ 4,552  
Capitalized Interest Expense
                                   
Amortization Expense Debt Costs
    201       304       223       119       254       63  
                                                 
Total
  $ 17,311     $ 31,781     $ 31,315     $ 21,091     $ 2,694     $ 4,615  
                                                 
Ratio
    1.55       1.01       2.45       2.07       1.72        
Deficiency
  $     $     $     $     $     $ (6,575 )
 
 
(1)
Such Balances are comprised of Adjustments to eliminate Earnings from Preferred Equity Investments and Equity in Earnings of Equity Investments and to add Distributions from Preferred Equity Investments and Equity Investments.