EX-12.1 3 b76562exv12w1.htm EX-12.1 - STATEMENT REGARDING COMPUTATION OF RATION OF EARNINGS TO FIXED CHARGES exv12w1
Exhibit 12.1
Calculation of Ratios of Earnings to Fixed Charges
(in thousands)
                                                         
    Three Months Ended March 31,   Year Ended December 31,
    2009   2008   2008   2007   2006   2005   2004
RATIO OF EARNINGS TO FIXED CHARGES:
                                                       
Pre-tax (loss) income from continuing operations before adjustment for income from equity investee
    8,404       (5,583 )     (38,132 )     (248,767 )     (11,750 )     (12,390 )     (14,321 )
 
                                                       
 
                                                       
Fixed charges:
                                                       
Interest expense (a)
    17,871       25,651       101,144       83,025       26,570       21,795       22,114  
Interest portion of rent expense (b)
    2,183       1,798       8,845       4,351       2,956       2,504       1,849  
 
                                                       
 
                                                       
Total fixed charges
    20,054       27,449       109,989       87,376       29,526       24,299       23,963  
 
                                                       
 
                                                       
Total earnings (loss)
    28,458       21,866       71,857       (161,391 )     17,776       11,909       9,642  
 
                                                       
 
                                                       
Ratio of earnings to fixed charges
    1.4x       0.8x       0.7x             0.6x       0.5x       0.4x  
Ratio of coverage deficiency
            (c )     (c )     (c )     (c )     (c )     (c )
 
(a)   Interest expense includes the write-off and amortization of deferred financing costs and the write-off and amortization of non-cash discounts associated with our debt issuances.
 
(b)   Includes approximately one-fourth of the rent expense for each period presented which management believes is a reasonable approximation of the interest component of such rentals.
 
(c)   For the three months ended March 31, 2008 and the years ended December 31, 2008, 2007, 2006, 2005 and 2004, our earning were insufficient to fully cover our fixed charges. The amount of the coverage deficiency in such periods was $5.6 million, $38.1 million, $248.8 million, $11.8 million, $12.4 million and $14.3 million, respectively.