EX-12.1 6 y57104a1ex12-1.txt STATEMENT RE: COMPUTATION OF RATIOS EXHIBIT 12.1 Computation of Ratio of Earnings to Fixed Charges
FOR THE YEAR ENDED DECEMBER 31, ----------------------------------------------------------------------- 2001 2000 1999 1998 1997 1996 ---- ---- ---- ---- ---- ---- (IN THOUSANDS) Earnings.................................. $165,784 $127,228 $104,241 $74,577 $139,249 $156,160 Add: Income taxes............................ 14,262 4,648 (1,525) (20,475) -- -- Fixed charges: Interest on Bank Facility............. 7,249 17,167 9,934 4,473 4,271 6,553 Interest on Trust Preferred........... 7,484 7,582 8,288 8,540 6,998 -- Other interest expense................ 349 349 349 290 259 112 ------------------------------------------------------------------------- Earnings before income taxes and fixed charges............................... $195,128 $156,974 $121,287 $67,405 $150,777 $162,825 ========================================================================= Fixed charges: Interest expense (Bank Facility).... 7,249 17,167 9,934 4,473 4,271 6,553 Interest expense (Trust Preferred).. 7,484 7,582 8,288 8,540 6,998 -- Interest expense (Other)............ 349 349 349 290 259 112 Total interest................... 15,082 25,098 18,571 13,303 11,528 6,665 ------------------------------------------------------------------------- Preference share dividends.......... 1,418 -- -- -- -- -- Total fixed charges..................... $16,500 $25,098 $18,571 $13,303 $11,528 $6,665 ========================================================================= Ratio of earnings to fixed charges...... 12.94 6.25 6.53 5.07 13.08 24.43 ========================================================================= Ratio of earnings to combined fixed charges and preference share dividends. 11.83 6.25 6.53 5.07 13.08 24.43 =========================================================================