EX-12.1 4 c15101exv12w1.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

Exhibit 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
                                                 
    Three Months Ended      
    March 31,     Year Ended December 31,  
(dollar amounts in thousands)   2007     2006     2005     2004     2003     2002  
Pretax income (loss) from continuing operations before adjustment for minority interest and income from unconsolidated subsidiaries
  $ 13,269     $ 61,467     $ 37,697     $ 24,083     $ 10,522     $ (17,702 )
Add:
                                               
Fixed charges
    4,123       16,718       9,885       8,419       8,194       7,093  
 
                                   
Adjusted pretax income (loss)
  $ 17,392     $ 78,185     $ 47,582     $ 32,502     $ 18,716     $ (10,609 )
 
                                   
 
                                               
Fixed charges:
                                               
Interest expense
  $ 3,581     $ 14,747     $ 8,459     $ 7,300     $ 7,216     $ 6,253  
Estimate of interest within rental expense
    542       1,971       1,426       1,119       978       840  
 
                                   
Total fixed charges
  $ 4,123     $ 16,718     $ 9,885     $ 8,419     $ 8,194     $ 7,093  
 
                                   
 
                                               
Ratio of earnings to fixed charges
    4.2       4.7       4.8       3.9       2.3       (1.5
Ratio of earnings to combined fixed charges and preferred stock dividends
    4.2       4.7       4.8       3.9       2.3       (1.5
Deficiency of earnings available to cover fixed charges
                                          $ (17,702 )