EX-12.1 19 dex121.htm STATEMENT OF COMPUTATION OF RATIOS Statement of Computation of Ratios

Exhibit 12.1

 

The following illustrates the computation of the historical ratio of earnings to fixed charges:

 

     FISCAL YEAR ENDED DECEMBER 31,
    

NINE MONTHS
ENDED
SEPTEMBER 30,

2003

     1998
     1999
     2000
     2001
     2002
    

Fixed Charges :

                                               

Interest on debt and capitalized leases

    $ 2,476     $ 5,852     $ 9,873     $ 7,926     $ 6,706     $ 10,987

Amortization of debt discount and expense

      300       414       572       1,159       1,945       1,980

Interest element of rentals *

      2,101       3,698       3,572       3,698       3,484       2,985

Investee’s fixed charges

      —         —         241       487       —         —  
    
 
 
 
 
 

Total Fixed Charges

    $ 4,877     $ 9,964     $ 14,258     $ 13,270     $ 12,135     $ 15,952
    
 
 
 
 
 

Earnings :

                                               

Net income (loss)

    $ (28,669 )   $ 50,915     $ 68,018     $ 15,301     $ (93,902 )   $ 41,355

Add back:

                                               

Loss (Income) from discontinued operations

      60,686       (12,169 )     (6,413 )     (4,712 )     117,875       —  

Income tax provision

      23,376       28,404       43,522       6,770       13,613       26,775

Loss on equity method investment

      —         —         3,329       5,741       —         —  

Fixed charges less interest capitalized

      4,868       9,944       14,244       13,065       12,135       15,952
    
 
 
 
 
 

Total Earnings

    $ 60,261     $ 77,094     $ 122,700     $ 36,165     $ 49,721     $ 84,082
    
 
 
 
 
 

Ratio of Earnings to Fixed Charges

      12.4       7.7       8.6       2.7       4.1       5.3
    
 
 
 
 
 
*   We determined the interest component of rent expense to be 10%.