EX-12.1 10 dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation 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

Earnings:

              

Net income

   257,832    176,401    103,672    64,242    36,065

Taxes

   87,595    63,825    36,236    21,873    8,260

Fixed charges

   47,103    40,104    24,318    29,737    38,667
                        

Total Earnings

   392,530    280,330    164,226    115,852    82,992
                        

Fixed Charges:

              

Interest expense

   17,783    16,374    4,358    9,907    19,826

Applicable portion of rent expense (1)

   29,320    23,730    19,960    19,830    18,841
                        

Total Fixed Charges

   47,103    40,104    24,318    29,737    38,667
                        

Ratio of Earnings to Fixed Charges

   8.33    6.99    6.75    3.90    2.15
                        

 

1. Represents one-third of rent expense, which we believe approximates the portion of rent expense that relates to interest.