EX-12.1 2 w37621exv12w1.htm EXHIBIT 12.1 exv12w1
 

EXHIBIT 12.1
                                                 
    Ratio of Earnings to Fixed Charges  
    (dollars in thousands, except ratio data)  
    June 30,     December 31,     December 31,     December 31,     December 31,     December 31,  
    2007 (1)     2006     2005     2004     2003     2002  
Fixed Charges:
                                               
Interest expense on indebtedness (including amortization of debt expense and discount)
  $ 19,642     $ 29,492     $ 17,849     $ 22,868     $ 23,723     $ 23,746  
 
                                               
Interest expense on portion of rent expense representative of interest
    10,150       19,899       14,614       9,089       7,604       7,206  
 
                                   
 
                                               
Total Fixed Charges
  $ 29,792     $ 49,391     $ 32,463     $ 31,957     $ 31,327     $ 30,952  
 
                                   
 
                                               
Earnings (Loss):
                                               
Net loss before provision for income taxes
  $ (102,298 )   $ (251,173 )   $ (239,439 )   $ (242,898 )   $ (185,324 )   $ (219,716 )
Fixed Charges per above
    29,792       49,391       32,463       31,957       31,327       30,952  
 
                                   
 
                                               
Total Earnings (Loss)
  $ (72,506 )   $ (201,782 )   $ (206,976 )   $ (210,941 )   $ (153,997 )   $ (188,764 )
 
                                   
 
                                               
Ratio of Earnings to Fixed Charges
                                   
 
                                               
Coverage deficiency (2)(3)(4)
  $ (102,298 )   $ (251,173 )   $ (239,439 )   $ (242,898 )   $ (185,324 )   $ (219,716 )
 
                                   
 
(1)   Amounts presented are for the six months ended June 30, 2007.
 
(2)   The Company’s Coverage deficiency for 2006 includes charges for lease termination and restructuring costs of $29,510 partially offset by a gain on the sale of an equity investment of $14,759.
 
(3)   The Company’s Coverage deficiency for 2004 includes net charges of $12,975, relating to a $15,408 charge for restructuring partially offset by a gain recognized on the extinguishment of debt of $2,433.
 
(4)   The Company’s Coverage deficiency for 2002 includes charges aggregating $46,396 arising from the Company’s impairment charge relating to its investment in CAT and a charge for construction design changes of $32,158 and $14,238, respectively.