EX-12.1 2 y51759ex12-1.txt STATEMENT RE COMPUTATION OF RATIO OF EARNINGS 1 EXHIBIT 12.1
PRO PRO HISTORICAL FORMA HISTORICAL FORMA 12/31/1996 12/31/1997 12/31/1998 12/31/1999 12/31/2000 12/31/2000 03/31/2000 03/31/2001 03/31/2001 (amts in 000's except ratios) EARNINGS AS DEFINED IN REGULATION S-K(1): Pre-tax income from continuing operations 25,142 1,669 28,139 5,909 36,606 28,133 8,792 4,924 2,736 Fixed charges 3,328 5,394 6,454 7,152 374 41,991 92 83 10,475 Capitalized interest (89) (1,292) (3,242) (1,845) -- -- -- -- -- -------------------------------------------------------------------------------------------------------- EARNINGS 28,381 5,771 31,351 11,216 36,980 70,124 8,884 5,007 13,211 FIXED CHARGES AS DEFINED IN REGULATION S-K(2): Total interest expensed and capitalized 2,793 4,726 5,770 6,632 374 39,444 92 83 9,759 Amortization of debt expense and discount or premium 535 668 684 520 -- 2,547 -- -- 716 -------------------------------------------------------------------------------------------------------- TOTAL FIXED CHARGES 3,328 5,394 6,454 7,152 374 41,991 92 83 10,475 RATIO OF EARNINGS TO FIXED CHARGES 8.53 1.07 4.86 1.57 98.88 1.67 96.57 60.33 1.26 ========================================================================================================
(1) The term "earnings" shall be defined as pre-tax income from continuing operations plus the amount of fixed charges computed in (2) below, adjusted to exclude interest capitalized during the period. (2) "Fixed charges" means the total of (a) interest, whether expensed or capitalized; and (b) amortization of debt expense and discount or premium related to any indebtedness, whether expensed or capitalized.