EX-12.1 2 a2154050zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


COMPUTATIONS OF RATIO OF EARNINGS TO FIXED CHARGES

 
  Year ended December 31,
  Three months ended
March 31,

 
 
  2000
  2001
  2002
  2003
  2004
  2004
  2005
 
 
  (dollars in millions)

 
Earnings:                                            
Income (loss) before income taxes   $ 209.4   $ 228.5   $ (1,049.8 ) $ 291.2   $ (9.2 ) $ 176.2   $ 175.6  
Loss related to equity method investees             0.1     0.6              
   
 
 
 
 
 
 
 
      209.4     228.5     (1,049.7 )   291.8     (9.2 )   176.2     175.6  

Add/(deduct):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Fixed charges     1.9     1.3     13.0     16.9     14.1     4.9     3.0  
  Amortization of capitalized interest     0.1     0.2     0.2     0.2     0.3          
  Interest costs capitalized     (0.3 )       (0.9 )   (2.9 )   (1.6 )   (0.8 )   (0.3 )
   
 
 
 
 
 
 
 
Earnings available for fixed charges   $ 211.1   $ 230.0   $ (1,037.4 ) $ 306.0   $ 3.6   $ 180.3   $ 178.3  
   
 
 
 
 
 
 
 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Interest expense(1)   $ 0.8   $ 0.6   $ 10.0   $ 13.8   $ 11.0   $ 4.0   $ 2.3  
  Interest portion of rental expense(2)     1.1     0.7     3.0     3.1     3.1     0.9     0.7  
   
 
 
 
 
 
 
 
Total fixed charges   $ 1.9   $ 1.3   $ 13.0   $ 16.9   $ 14.1   $ 4.9   $ 3.0  
   
 
 
 
 
 
 
 
Ratio of earnings to fixed charges     112     174           18         37     60  
Deficiency of earnings to fixed charges           $ (1,050.4 )       (10.5 )            

(1)
Includes interest, whether expensed or capitalized, and amortization of debt expense and premium relating to indebtedness.

(2)
One-third of all rental expense is deemed to be interest.



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COMPUTATIONS OF RATIO OF EARNINGS TO FIXED CHARGES