EX-12 8 p16939exv12.htm EX-12 exv12
Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
                                                 
    Fiscal     Six Months                      
    Year Ended     Ended             Years Ended        
    June 30,     December 31,             December 31,        
    2005     2005     2006     2007     2008     2009  
 
EARNINGS:
                                                
Income (loss) before income tax expense
   $ 89,425     $ 81,617     $ (72,722 )   $ 118,980     $ 42,406     $ 135,590  
Add: Fixed charges
     12,092       6,084       12,133       11,839       9,546       6,694  
     
Earnings as defined
   $ 101,517     $ 87,701     $ (60,589 )   $ 130,819     $ 51,952     $ 142,284  
     
 
                                                
FIXED CHARGES:
                                                
Interest expense
   $ 8,488     $ 4,253     $ 8,488     $ 8,495     $ 6,008     $ 4,228  
Amortization of deferred financing fees
     2,152       1,080       2,152       1,523       666       —  
     
Interest expense as reported
     10,640       5,333       10,640       10,018       6,674       4,228  
Portion of rent expense as interest
     1,452       751       1,493       1,821       2,872       2,466  
     
Fixed charges as defined
   $ 12,092     $ 6,084     $ 12,133     $ 11,839     $ 9,546     $ 6,694  
     
 
                                                
Ratio of earnings to fixed charges
     8.4 x      14.4 x      (5.0) x      11.1 x      5.4 x      21.3 x 
     For purposes of computing the ratios of earnings to fixed charges, earnings represent pretax income from continuing operations plus fixed charges. Fixed charges represent interest expense and the portion of rents representative of interest related to continuing operations.