EX-12.1 46 dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In millions)

 

     Predecessor    Successor
     2003     2004    2005    2006    Three
months
ended
March 31,
2007
   January 1
to
October 19,
2007
   October 20 to
December 31,
2007
    Three
months
ended
March 31,
2008

Pre-tax income (loss) from continuing operations before income or loss from equity investees

   $ (16.5 )   $ 73.6    $ 156.6    $ 109.8    $ 44.4    $ 104.2    $ (19.0 )   $ 13.6
                                                         

Fixed charges:

                     

Interest expense

     18.8       24.0      76.0      70.7      24.5      55.1      30.8       31.2

Rentals, primarily buildings

     5.5       5.4      10.2      10.7      2.5      7.8      2.2       2.7
                                                         

Total fixed charges

   $ 24.3     $ 29.4    $ 86.2    $ 81.4    $ 27.0    $ 62.9    $ 33.0     $ 33.9

Pre-tax income (loss) from continuing operations before income or loss from equity investees plus fixed charges

   $ 7.8     $ 103.0    $ 242.8    $ 191.2    $ 71.4    $ 167.1    $ 14.0     $ 47.5
                                                         

Ratio of earnings to fixed charges(1)

     —         3.5      2.8      2.3      2.6      2.7      —         1.4
                                                         

Earnings deficiency

   $ 16.5                    $ 19.0    

 

(1) The Company accounts for interest and penalties related to uncertain tax positions as part of income tax expense, and therefore, these charges are not included as a component of interest expense within fixed charges.