EX-12.1 2 dex121.htm STATEMENT OF COMPUTATION OF RATIO Statement of Computation of Ratio

Exhibit 12.1

 

Statement of Computation of Ratios

 

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

 

     Fiscal Year Ended December 31,
    Three
Months
Ended
March 31,
2004
     1999
     2000
     2001
     2002
     2003
   

Fixed Charges:

                                              

Interest on debt and capitalized leases

    $ 5,852     $ 9,873     $ 7,926     $ 6,706     $ 18,568    $ 9,752

Amortization of debt discount and expense

      414       572       1,159       1,945       3,765      3,494

Interest element of rentals*

      3,698       3,572       3,698       3,484       4,255      2,345

Investee’s fixed charges

      —         241       487       —         —        —  
    
 
 
 
 
  

Total Fixed Charges

    $ 9,964     $ 14,258     $ 13,270     $ 12,135     $ 26,588    $ 15,591
    
 
 
 
 
  

Earnings:

                                              

Net income (loss)

    $ 50,915     $ 68,018     $ 15,301     $ (93,902 )   $ 40,683    $ 18,156

Add back:

                                              

Loss (Income) from discontinued operations

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

Income tax provision

      28,404       43,522       6,770       13,613       26,131      11,372

Loss on equity method investment

      —         3,329       5,741       —         —        —  

Fixed charges less interest capitalized

      9,944       14,244       13,065       12,135       26,588      15,591
    
 
 
 
 
  

Total Earnings

    $ 77,094     $ 122,700     $ 36,165     $ 49,721     $ 93,402    $ 45,119
    
 
 
 
 
  

Ratio of Earnings to Fixed Charges

      7.7       8.6       2.7       4.1       3.5      2.9
    
 
 
 
 
  
*   We determined the interest component of rent expense to be 10%.