EX-12.1 15 b78349aexv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Calculation of Ratios of Earnings to Fixed Charges
(in thousands)
                                         
    For the Years Ended December 31,
    2009   2008   2007   2006   2005
RATIO OF EARNINGS TO FIXED CHARGES:
                                       
Pre-tax (loss) income from continuing operations before adjustment for income from equity investee
    42,260       (37,042 )     (248,419 )     (8,211 )     (11,299 )
 
                                       
 
                                       
Fixed charges:
                                       
Interest expense (a)
    106,733       101,144       83,025       26,570       21,795  
Interest portion of rent expense (b)
    9,316       8,555       4,064       2,689       2,504  
 
                                       
 
                                       
Total fixed charges
    116,049       109,699       87,089       29,259       24,299  
 
                                       
 
                                       
Total earnings (loss)
    158,309       72,657       (161,330 )     21,048       13,000  
 
                                       
 
                                       
Ratio of earnings to fixed charges
    1.4X       0.7x             0.7X       0.5x  
Ratio of coverage deficiency
            (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)   Due to the loss from continuing operations for the years ended December 31, 2008, 2007, 2006 and 2005, there were insufficient earnings of $37.0 million, $248.4 million, $8.2 million and $11.3 million, respectively, to cover fixed charges.