EX-12.1 2 dex121.htm STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

     Year Ended December 31,  
     2007     2006     2005     2004     2003  
     (In thousands)  

(Loss) income before income taxes and minority interest

   $ (186,304 )   $ (92,786 )   $ (37,463 )   $ (41,335 )   $ 17,355  

Plus fixed charges:

          

Interest expense, net

     209,687       206,951       184,362       140,500       96,586  

Capitalized interest

     5,715       9,482       6,070       1,758       1,638  

Portion of rent expense representative of interest expense

     18,573       18,096       16,352       10,802       7,949  

Plus amortization of capitalized interest

     2,777       2,253       1,464       1,418       1,339  

Less capitalized interest

     (5,715 )     (9,482 )     (6,070 )     (1,758 )     (1,638 )
                                        

Adjusted earnings

   $ 44,733     $ 134,514     $ 164,715     $ 111,385     $ 123,229  

Fixed charges

   $ 233,975     $ 234,529     $ 206,784     $ 153,060     $ 106,173  

Ratio of earnings to fixed charges

     —         —         —         —         1.2  

Deficiency of earnings to cover fixed charges

   $ 189,242     $ 100,015     $ 42,069     $ 41,675     $ —