EX-12.1 6 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,
     2008    2007    2006    2005    2004

Earnings:

               

Net income

    84,883    257,832    176,401    103,672    64,242

Taxes

    28,743    87,595    63,825    36,236    21,873

Fixed charges

    68,908    47,103    40,104    24,318    29,737
                        

Total Earnings

    182,534    392,530    280,330    164,226    115,852
                        

Fixed Charges:

               

Interest expense

    31,933    17,783    16,374    4,358    9,907

Applicable portion of rent expense (1)

    36,975    29,320    23,730    19,960    19,830
                        

Total Fixed Charges

    68,908    47,103    40,104    24,318    29,737
                        

Ratio of Earnings to Fixed Charges

    2.65    8.33    6.99    6.75    3.90
                        

 

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