EX-12.1 12 a08-18629_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands)

 

 

 

Six Months Ended
June 30,

 

Year Ended December 31,

 

 

 

2008

 

2007

 

2007

 

2006

 

2005

 

2004

 

2003

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

44,996

 

$

38,171

 

$

85,303

 

$

66,101

 

$

63,912

 

$

56,742

 

$

45,874

 

Fixed charges

 

19,328

 

19,053

 

37,755

 

47,020

 

46,633

 

41,836

 

37,899

 

Adjusted earnings

 

$

64,324

 

$

57,224

 

$

123,058

 

$

113,121

 

$

110,545

 

$

98,578

 

$

83,773

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

19,328

 

$

19,053

 

$

37,755

 

$

47,020

 

$

46,633

 

$

41,836

 

$

37,899

 

Ratio of earnings to fixed charges

 

3.3

x 

3.0

x 

3.3

x 

2.4

x 

2.4

x 

2.4

x 

2.2

x