EX-12.1 3 a2050243zex-12_1.txt RATIO OF EARNINGS Exhibit 12.1 Computation of Ratios of Earnings to Fixed Charges
YEARS ENDED DECEMBER 31, THREE MONTHS ENDED MARCH 31, ----------------------------------- ---------------------------- 1998 1999 2000 2000 2001 --------- --------- --------- --------- --------- INCOME AVAILABLE FOR FIXED CHARGES Income before income taxes and minority interest and extraordinary items $ 33,906 $ 77,301 $ 118,156 $ 32,298 $ 28,792 Fixed Charges 62,312 52,411 39,802 11,343 12,905 Less capitalized interest (1,086) (115) (717) (66) (123) Less minority partner preferred equity return (2,360) (2,063) (1,527) (455) (162) --------- --------- --------- --------- --------- Income available for fixed charges $ 92,772 $ 127,534 $ 155,714 $ 43,120 $ 41,412 ========= ========= ========= ========= ========= FIXED CHARGES Interest expense $ 57,487 $ 48,594 $ 34,768 $ 10,107 $ 11,882 Minority partner preferred equity return 2,360 2,063 1,527 455 162 Capitalized interest 1,086 115 717 66 123 Interest portion of rent expense 1,379 1,639 2,790 715 738 --------- --------- --------- --------- --------- Total fixed charges $ 62,312 $ 52,411 $ 39,802 $ 11,343 $ 12,905 ========= ========= ========= ========= ========= Ratio of earnings to fixed charges 1.5 x 2.4 x 3.9 x 3.8 x 3.2 x
Pro Forma Pro Forma Year Ended Three months December 31, ended March 31, 2000 2001 -------------- --------------- INCOME AVAILABLE FOR FIXED CHARGES Income before income taxes and minority interest and extraordinary items $ 93,735 $ 30,314 Fixed Charges 113,070 27,280 Less capitalized interest (717) (123) ---------- --------- Income available for fixed charges $ 206,088 $ 57,471 ========== ========= FIXED CHARGES Interest expense $ 109,442 $ 26,391 Capitalized interest 717 123 Interest portion of rent expense 2,911 766 ---------- --------- Total fixed charges $ 113,070 $ 27,280 ========== ========= Ratio of earnings to fixed charges 1.8 x 2.1 x