EX-12.1 3 g78100a3exv12w1.txt RATIO OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 RATIO OF EARNINGS TO FIXED CHARGES (DOLLAR AMOUNTS IN THOUSANDS)
1998 1999 2000 2001 2002 -------- -------- -------- -------- -------- EARNINGS (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES & MINORITY INTERESTS $ 14,442 $ 10,243 $ 2,255 $ 2,232 $(33,815) FIXED CHARGES: INTEREST EXPENSE* $ 10,073 $ 11,847 $ 10,245 $ 8,281 $ 8,782 CAPITALIZED INTEREST 3,219 2,004 349 858 80 INTEREST FACTOR OF RENT EXPENSE 3,443 4,736 3,617 204 204 -------- -------- -------- -------- -------- FIXED CHARGES $ 16,735 $ 18,587 $ 14,211 $ 9,343 $ 9,066 -------- -------- -------- -------- -------- PRETAX INCOME BEFORE FIXED CHARGES $ 31,177 $ 28,830 $ 16,466 $ 11,575 $(24,749) LESS CAPITALIZED INTEREST (3,219) (2,004) (349) (858) (80) PLUS AMORTIZATION OF CAPITALIZED INTEREST 80 50 9 21 2 -------- -------- -------- -------- -------- NET $ 28,039 $ 26,876 $ 16,125 $ 10,738 $(24,827) -------- -------- -------- -------- -------- RATIO OF EARNINGS FROM CONTINUING OPERATIONS TO FIXED CHARGES (TIMES) 1.68 1.45 1.13 1.15 -2.74 ======== ======== ======== ======== ========
* INCLUDES AMORTIZATION OF DEFERRED FINANCING COSTS.