EX-12.1 3 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

  

Three Months

Ended

March 31,


   

Twelve Months Ended December 31,


   

Six Months Ended December 31,


   

Twelve Months Ended June 30,


   

Six Months Ended June 30,


  

Twelve Months Ended December 31,


(In thousands)

  

2003


   

2002


   

2001


   

2001


   

2000


   

2001


   

2000


   

1999


  

1998


Earnings:

                                                                     

Income from continuing operations before income taxes

  

$

(11,060

)

 

$

(40,423

)

 

$

183,370

 

 

$

(19,620

)

 

$

37,345

 

 

$

240,335

 

 

$

106,547

 

 

$

40,160

  

$

212,482

Fixed charges, as shown below

  

 

10,512

 

 

 

50,358

 

 

 

47,952

 

 

 

18,787

 

 

 

33,179

 

 

 

62,343

 

 

 

61,670

 

 

 

33,792

  

 

54,109

Equity in income of investees

  

 

337

 

 

 

9,818

 

 

 

(11,249

)

 

 

(796

)

 

 

(8,984

)

 

 

(19,437

)

 

 

(1,969

)

 

 

  

 

    


 


 


 


 


 


 


 

  

Adjusted Earnings (Loss)

  

$

(211

)

 

$

19,753

 

 

$

220,073

 

 

$

(1,629

)

 

$

61,540

 

 

$

283,241

 

 

$

166,248

 

 

$

73,952

  

$

266,591

    


 


 


 


 


 


 


 

  

Fixed charges:

                                                                     

Interest on indebtedness, expensed or capitalized

  

$

9,476

 

 

$

46,213

 

 

$

43,356

 

 

$

16,564

 

 

$

30,806

 

 

$

57,598

 

 

$

55,289

 

 

$

30,504

  

$

48,138

Interest within rent expense

  

 

1,036

 

 

 

4,145

 

 

 

4,596

 

 

 

2,223

 

 

 

2,373

 

 

 

4,745

 

 

 

6,381

 

 

 

3,288

  

 

5,971

    


 


 


 


 


 


 


 

  

Total Fixed Charges

  

$

10,512

 

 

$

50,358

 

 

$

47,952

 

 

$

18,787

 

 

$

33,179

 

 

$

62,343

 

 

$

61,670

 

 

$

33,792

  

$

54,109

    


 


 


 


 


 


 


 

  

Ratio of Earnings to Fixed Charges

  

 

(1

)

 

 

(2

)

 

 

4.59

 

 

 

(3

)

 

 

1.85

 

 

 

4.54

 

 

 

2.70

 

 

 

2.19

  

 

4.93

    


 


 


 


 


 


 


 

  

 

(1)   The deficiency of earnings to cover fixed charges was $10,723 for the quarter ended March 31, 2003.
(2)   The deficiency of earnings to cover fixed charges was $30,605, for the period ended December 31, 2002.
(3)   The deficiency of earnings to cover fixed charges was $20,416 for the period ended December 31, 2001.