EX-12.1 9 a70593ex12-1.txt EXHIBIT 12.1 1 EXHIBIT 12.1 STATEMENT REGARDING CALCULATION OF RATIOS
YEAR ENDED DECEMBER 31, ------------------------------------------------------- RATIO OF EARNINGS TO FIXED CHARGES: 2000 1999 1998 1997 1996 ($ in millions) Earnings (loss) before income taxes .......................... $181.9 $154.7 $ 46.6 $(251.9) $111.5 Add: Interest Expense ........................................ 71.9 73.8 87.8 29.4 18.1 Portion of rents representative of interest factor ...... 24.4 23.4 17.9 10.6 9.9 ----- ----- ----- ------ ----- Earnings (loss) as adjusted ............................. 278.2 251.9 152.3 (211.9) 139.5 Fixed charges: Interest Expense ........................................ 71.9 73.8 87.8 29.4 18.1 Portion of rents representative of interest factor ...... 24.4 23.4 17.9 10.6 9.9 ----- ----- ----- ------ ----- Total fixed charges ..................................... 96.3 97.2 105.7 40.0 28.0 RATIO OF EARNINGS TO FIXED CHARGES ........................... 2.9X 2.6X 1.4X -- 5.0X
Earnings were inadequate to cover fixed charges for the year ended December 31, 1997. The coverage deficiency was $251.9 million.