EX-12.1 2 ex12_1.htm EXHIBIT 12.1 Exhibit 12.1
EXHIBIT 12.1

Computation of Ratio of Earnings to Fixed Charges

   
Year Ended December 31,
  
                       
                       
   
2006
  
2005
  
2004
  
2003
  
2002
  
                       
Earnings:
                      
Net income
    
176,401
   
103,672
   
64,242
   
36,065
   
27,110
 
Income taxes
    
63,825
   
36,236
   
21,873
   
8,260
   
11,037
 
Fixed charges excluding capitalized interest
    
40,104
   
24,318
   
29,737
   
38,667
   
36,069
 
Total earnings
    
280,330
   
164,226
   
115,852
   
82,992
   
74,216
 
                                 
                                 
Fixed charges as defined:
                                
Interest expense
    
16,374
   
4,358
   
9,907
   
19,826
   
19,279
 
Interest portion of rent expense
    
23,730
   
19,960
   
19,830
   
18,841
   
16,790
 
Total fixed charges
    
40,104
   
24,318
   
29,737
   
38,667
   
36,069
 
                                 
Ratio of earnings to fixed charges
    
6.99
   
6.75
   
3.90
   
2.15
   
2.06