EX-12.1 5 h07853a3exv12w1.txt STATEMENT RE COMPUTATION OF RATIO OF EARNINGS . . . EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In thousands, except Ratio of earnings to fixed charges)
TWELVE MONTHS ENDED DECEMBER 31, -------------------------------------------------------------- 2003 2002 2001 2000 1999 ---------- ---------- ---------- ---------- ---------- Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees $ 184,101 $ 240,775 $ 348,428 $ 229,426 $ 124,953 ========== ========== ========== ========== ========== Fixed charges: Interest expense and amortization of debt issuance costs and debt discount and premium on all indebtedness 40,291 42,622 47,752 56,450 55,543 Rentals 1,333 1,229 1,269 781 890 ---------- ---------- ---------- ---------- ---------- Total fixed charges $ 41,624 $ 43,851 $ 49,021 $ 57,231 $ 56,433 ========== ========== ========== ========== ========== Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees plus fixed charges and amortization of capitalized interest less interest capitalized $ 227,552 $ 286,454 $ 399,276 $ 286,537 $ 159,850 ========== ========== ========== ========== ========== Ratio of earnings to fixed charges 5.5 6.5 8.1 5.0 2.8