EX-12 2 a2182897zex-12.htm EXHIBIT 12
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Exhibit 12


Ratio of Earnings to Fixed Charges
(in thousands, except ratios)

 
  December 31,
 
 
  2003
  2004
  2005
  2006
  2007
 
Income before income tax expense   $ 79,772   99.671   106,024   85,405   50,923  
Equity in losses of equity-method investees     618   615   42   (1,721 ) (1,042 )
   
 
 
 
 
 
Net income before equity in losses of equity- method investees     80,390   300,376   106,066   83,684   49,881  
   
 
 
 
 
 
Add fixed charges:                        
  Interest expense including amortization of debt issuance costs     26,397   30,952   26,548   43,393   58,550  
  Estimate of interest within rental expense     4,071   5,116   4,208   4,755   4,699  
   
 
 
 
 
 
      30,468   36,068   30,756   48,148   63,249  
   
 
 
 
 
 
  Adjusted earnings     110,858   136,444   136,822   131,832   113,130  
   
 
 
 
 
 
Ratio of earnings to fixed charges (1)     3.6   3.8   4.4   2.7   1.8  

(1)
The ratio of earnings to fixed charges is computed by dividing adjusted earnings by fixed charges.



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Ratio of Earnings to Fixed Charges (in thousands, except ratios)