EX-12.1 7 a2148899zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


RATIO OF EARNINGS TO FIXED CHARGES

        The following table sets forth our ratio of earnings to fixed charges on a reported basis for the periods indicated. Earnings consists of income from continuing operations plus fixed charges. Fixed charges consist of interest expense.

 
  December 31,
  Nine Months ended
September 30,

 
  1999
  2000
  2001
  2002
  2003
  2003
  2004
RATIO OF EARNINGS TO FIXED CHARGES                                          
Net income (loss) from continuing operations   $ 18,966   $ (43,250 ) $ (15,588 ) $ (3,744 ) $ 23,341   $ 16,475   $ 4,772
  Interest expense     42,947     42,400     33,204     27,381     23,388     17,964     36,784
   
 
 
 
 
 
 
  Net income (loss) before fixed charges     61,913     (850 )   17,616     23,637     46,729     34,439     41,556
   
 
 
 
 
 
 
Interest expense   $ 42,947   $ 42,400   $ 33,204   $ 27,381   $ 23,388   $ 17,964   $ 36,784
   
 
 
 
 
 
 
  Total fixed charges   $ 42,947   $ 42,400   $ 33,204   $ 27,381   $ 23,388   $ 17,964   $ 36,784
   
 
 
 
 
 
 
Earnings/Fixed charge coverage ratio     1.4x     *     *     *     2.0x     1.9x     1.1x
   
 
 
 
 
 
 

*
Our earnings were insufficient to cover fixed charges by $43,250, $15,588 and $3,744 in 2000, 2001 and 2002 respectively. In addition, our ratio of earnings to fixed charges has been revised to reflect the impact of the implementation of the Statement of Accounting Standard No. 144, "Accounting for the Impairment and Disposal of Long-Lived Assets."



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RATIO OF EARNINGS TO FIXED CHARGES