EX-12.1 2 a2148132zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

 
  Predecessor
  Successor
 
  Fiscal Year Ended December 31,
  Period from
January 1, 2004
through August 20,
2004

   
 
  Period from August 21, 2004
through December 31,
2004

 
  2000
  2001
  2002
  2003
Net income (loss) before income taxes   (107,690 ) 74,704   (69,996 ) 114,933   48,257   37,107

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense incurred

 

29,419

 

23,290

 

24,989

 

22,890

 

12,358

 

30,434
Interest portion of lease expense (1/3)   19,342   21,616   23,459   21,883   13,878   8,458
   
 
 
 
 
 
Total fixed charges   48,761   44,906   48,448   44,773   26,236   38,892
   
 
 
 
 
 

Net income (loss) before income taxes and fixed charges

 

(58,929

)

119,610

 

(21,548

)

159,706

 

74,493

 

75,999
   
 
 
 
 
 

Ratio of earnings (pre-tax) to fixed charges

 


 

2.7

 


 

3.6

 

2.8

 

2.0

=(1)
The ratio of earnings to fixed charges was calculated by dividing (i) net income (loss) before income taxes and fixed charges by (ii) fixed charges which consist of interest expense incurred, including amortization of debt discount and premium on all indebtedness, and one-third of rental expense, which approximates the interest portion of our rental expense. For the years ended December 31, 2000 and 2002, our earnings were not sufficient to cover our fixed charges by $58.9 million and $20.0 million, respectively.