EX-12.1 2 w50091a1exv12w1.htm EX-12.1 exv12w1
 

EXHIBIT 12.1
 
Ratio of Earnings to Fixed Charges
(dollars in thousands, except ratio data)
 
                                         
    Year Ended December 31,  
    2007     2006     2005     2004     2003  
 
Fixed Charges:
                                       
Interest expense on indebtedness (including amortization of debt expense and discount)
  $ 39,341     $ 29,492     $ 17,849     $ 22,868     $ 23,723  
Interest expense on portion of rent expense representative of interest
    20,211       19,899       14,614       9,089       7,604  
                                         
Total Fixed Charges
  $ 59,552     $ 49,391     $ 32,463     $ 31,957     $ 31,327  
                                         
Earnings (Loss):
                                       
Net loss before provision for income taxes
  $ (262,448 )   $ (251,173 )   $ (239,439 )   $ (242,898 )   $ (185,324 )
Fixed Charges per above
    59,552       49,391       32,463       31,957       31,327  
                                         
Total Earnings (Loss)
  $ (202,896 )   $ (201,782 )   $ (206,976 )   $ (210,941 )   $ (153,997 )
                                         
Ratio of Earnings to Fixed Charges
    —       —       —       —       —  
Coverage deficiency(1)(2)
  $ (262,448 )   $ (251,173 )   $ (239,439 )   $ (242,898 )   $ (185,324 )
                                         
 
 
(1) The Company’s Coverage deficiency for 2006 includes charges for lease termination and restructuring of $29,510 partially offset by a gain on the sale of an equity investment of $14,759.
 
(2) 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.