EX-12 22 dex12.htm COMPUTATION OF RATIO OF EARNINGS Computation of Ratio of Earnings

Exhibit 12

 

Statement Re: Computation of ratio of earnings to fixed charges

 

    Historical

    Proforma
Year Ended
December 31,


   

Historical


    Proforma
Three Months
Ended
March 31,


 
    Year Ended December 31,

     

Three Months

Ended
March 31,


   
    1999

    2000

    2001

    2002

    2003

    2003

    2003

    2004

    2004

 

Consolidated pretax loss from continuing operations

  $ (26,648 )   $ (82,621 )   $ (109,813 )   $ (591,531 )   $ (159,991 )   $ (151,098 )   $ (58,395 )   $ (28,296 )   $ (23,447 )

Share of distributed income of 50%-or-less-owned affiliates net of equity pick-up

    210       (384 )     129       378       (153 )     (153 )     (135 )     424       424  

Interest expense

    6,329       3,750       5,670       31,420       42,797       68,135       9,663       11,464       18,131  

Interest portion of rental expense

    1,606       5,584       8,263       19,147       22,268       22,268       5,747       5,455       5,455  

Net amortization of debt discount and premium and issuance expense

    5,284       30,943       35,028       42,777       49,658       15,427       11,650       13,372       3,856  
   


 


 


 


 


 


 


 


 


Earnings

  $ (13,219 )   $ (42,728 )   $ (60,723 )   $ (497,809 )   $ (45,421 )   $ (45,421 )   $ (31,470 )   $ 4,419     $ 4,419  
   


 


 


 


 


 


 


 


 


Interest expense

    6,329       3,750       5,670       31,420       42,797       68,135       9,663       11,464       18,131  

Interest portion of rental expense

    1,606       5,584       8,263       19,147       22,268       22,268       5,747       5,455       5,455  

Net amortization of debt discount and premium and issuance expense

    5,284       30,943       35,028       42,777       49,658       15,427       11,650       13,372       3,856  
   


 


 


 


 


 


 


 


 


Fixed Charges

  $ 13,219     $ 40,277     $ 48,961     $ 93,344     $ 114,723     $ 105,830     $ 27,060     $ 30,291     $ 27,442  
   


 


 


 


 


 


 


 


 


Ratio of Earnings to Fixed Charges

    —         —         —         —         —         —         —         —         —    
   


 


 


 


 


 


 


 


 


Coverage deficiency ($ millions)

  $ (26,438 )   $ (83,005 )   $ (109,684 )   $ (591,153 )   $ (160,144 )   $ (151,251 )   $ (58,530 )   $ (25,872 )   $ (23,023 )