EX-21.1 2 dex211.htm COMPUTATION OF RATIO EARNINGS Computation of Ratio Earnings

Exhibit 12.1

 

Ratio of Earnings to Fixed Charges

 

    

Three Months

Ended

March 31,

2005


    Year Ended December 31,

 
       2004

    2003

    2002

    2001

    2000

 
     (in millions)  

Income (loss) before income taxes

   $ 107.8     $ 355.9     $ 39.0     $ (150.6 )   $ (566.7 )   $ (1,406.2 )

Equity in losses of equity-method investees

     —         —         0.4       4.2       30.3       304.6  
    


 


 


 


 


 


Net income (loss) before equity in losses of equity-method investees

     107.8       355.9       39.4       (146.4 )     (536.4 )     (1,101.6 )
    


 


 


 


 


 


Plus fixed charges:

                                                

Interest expense including amortization of debt issuance costs

     26.1       107.2       130.0       142.9       139.2       130.9  

Assumed interest element included in rent expense

     1.1       3.9       5.7       6.2       8.9       10.8  
    


 


 


 


 


 


       27.2       111.1       135.7       149.1       148.1       141.7  
    


 


 


 


 


 


Adjusted earnings (loss)

     135.0       467.0       175.1       2.7       (388.3 )     (959.9 )

Fixed charges

     (27.2 )     (111.1 )     (135.7 )     (149.1 )     (148.1 )     (141.7 )
    


 


 


 


 


 


Excess (deficiency) of earnings to cover fixed charges

   $ 107.8     $ 355.9     $ 39.4     $ (146.4 )   $ (536.4 )   $ (1,101.6 )
    


 


 


 


 


 


Ratio of earnings to fixed charges (1)

     4.96       4.20       1.29       0.02       (2.62 )     (6.77 )

(1) The ratio of earnings to fixed charges is computed by dividing (i) income (loss) before income taxes and losses from equity interests, plus fixed charges by (ii) fixed charges.