EX-12.1 3 ex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES ex121.htm
EXHIBIT 12.1
 
 

   
Fiscal year ended December 31,
  
Fixed charges:
  
2008
    
2007
    
2006
    
2005
    
2004
  
Interest expense
   $ 42,772     $ 81,516     $ 52,472     $ 33,971     $ 4,729  
Assumed intererst element in rent
     2,270       2,542       1,452       1,314       761  
     Total fixed charges:
     45,042       84,058       53,924       35,285       5,490  
Preference security dividend
     -       -       -       -       6,775  
     Total fixed charges and preference security dividends
     45,042       84,058       53,924       35,285       12,265  
                                         
Earnings:
                                        
(Loss) income before income taxes
     (139,392 )     (33,864 )     207,197       304,589       173,444  
Fixed charges
     45,042       84,058       53,924       35,285       5,490  
     Total earnings
   $ (94,350 )   $ 50,194     $ 261,121     $ 339,874     $ 178,934  
Ratio of earnings to fixed charges
     (2.09 )X      0.60 X      4.84 X      9.63 X      14.6 X