EX-12.1 3 d253018dex121.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Computation of Ratios of Earnings to Fixed Charges

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

     Years Ended December 31,  
     2007      2008     2009      2010     2011  

Income (loss) from continuing operations before income taxes

    $ 22,209       $ (133,076 )    $ 16,035       $ (1,630 )    $ 30,420   

Fixed charges:

             

Interest expense

      5,012         1,537        4         43        62   

Interest relating to rental expense(1)

      6,339         5,314        2,438         2,533        2,081   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Total fixed charges

      11,351         6,851        2,442         2,576        2,143   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Earnings available for fixed charges

    $ 33,560       $ (126,225 )    $ 18,477       $ 946      $ 32,563   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Ratio of earnings to fixed charges

      2.96         N/A (2)      7.57         0.37        15.19   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

 

(1) The representative interest portion of rental expense was deemed to be one-third of all rental expense, except for the rental expense related to the off-balance sheet financing leases, as described in the footnotes to the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2011, which was deemed to be all interest.
(2) For the year ended December 31, 2008, our earnings were insufficient to cover fixed charges. The amount of additional earnings needed to cover fixed charges for the year was $126.2 million.