EX-12.1 2 dex121.htm STATEMENT REGARDING COMPUTATION OF RATIOS Statement Regarding Computation of Ratios

EXHIBIT 12.1

STATEMENT REGARDING CALCULATION OF RATIOS

 

     Years Ended December 31,  
         2001            2002             2003             2004             2005      

Earnings:

           

Income (loss) before income taxes

   $ 2,659    $ (14,512 )   $ (129,741 )   $ (53,161 )   $ (165,709 )

Add: fixed charges

     10,190      10,370       13,176       10,083       15,992  

Less: capitalized interest

          (531 )     (2,245 )     (3,786 )     (3,911 )
                                       

Earnings

   $ 12,849    $ (4,673 )   $ (118,810 )   $ (46,864 )   $ (153,628 )
                                       

Fixed Charges:

           

Interest expensed and capitalized

   $ 9,709    $ 9,677     $ 12,015     $ 8,814     $ 14,088  

Estimated interest portion of rent expense

     481      693       1,161       1,269       1,904  
                                       

Fixed charges

   $ 10,190    $ 10,370     $ 13,176     $ 10,083     $ 15,992  
                                       

Ratio of earnings to fixed charges(1)

     1.26      N/A       N/A       N/A       N/A  

Earnings insufficiency

      $ (15,043 )   $ (131,986 )   $ (56,947 )   $ (169,620 )

 

(1) Loss before income taxes for the years ended December 31, 2002, 2003 and 2004 and 2005 was not sufficient to cover fixed charges by a total of approximately $15.0 million in 2002, $132.0 million in 2003, $56.9 million in 2004 and $169.6 million in 2005. As a result, the ratio of earnings to fixed charges has not been computed for any of these periods.