EX-12.1 4 h15982exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS, EXCEPT RATIOS)
THREE MONTHS ENDED MARCH 31, YEAR ENDED DECEMBER 31, --------------------- ------------------------------------------------------ 2004 2003 2003 2002 2001 2000 1999 EARNINGS Earnings (Loss) before income taxes $1,954 $1,848 $(9,732) $(2,571) $ 2,793 $19,010 $ 3,980 Total interest expense 5,891 7,181 30,614 26,140 12,805 8,420 6,175 --------------------- ------------------------------------------------------ Pretax earnings (loss) plus interest expense $7,845 $9,029 $20,882 $23,569 $15,598 $27,430 $10,155 ===================== ====================================================== FIXED CHARGES Interest expense $5,891 $7,181 $30,614 $26,140 $12,805 $ 8,420 $ 6,175 Interest capitalized 984 1,361 4,841 5,660 5,301 4,548 3,497 --------------------- ------------------------------------------------------ Fixed Charges $6,875 $8,542 $35,455 $31,800 $18,106 $12,968 $ 9,672 ===================== ====================================================== Ratio of earnings to fixed charges 1.1 1.1 -- -- -- 2.1 1.0 Amount of fixed charges not covered by earnings -- -- $14,573 $ 8,231 $ 2,508 -- --