EX-12.1 3 j0705401exv12w1.htm EXHIBIT 12.1 Exhibit 12.1
 

Exhibit 12.1

     Statement Regarding Computation of Ratio of Earnings to Fixed Charges:

                                         
    Fiscal   Fiscal   Fiscal   Fiscal   Fiscal
    1999   2000   2001   2002   2003
 
                                        
Earnings:
                                        
 
                                        
Income from continuing operations before taxes
   $ 24,485     $ 26,578     $ 39,119     $ 63,773     $ 88,031  
 
                                        
Fixed Charges
   $ 33,807     $ 32,983     $ 30,964     $ 31,964     $ 34,992  
 
                                        
Accretion of redeemable preferred stock
   $ (14,404 )   $ (5,654 )   $ —     $ —     $ —  
 
                                        
 
   $ 43,888     $ 53,907       70,083     $ 95,737     $ 123,023  
 
                                        
 
                                        
Fixed Charges:
                                        
 
                                        
Interest expense, net
   $ 3,520     $ 6,963     $ 6,241     $ 2,864     $ 1,831  
 
                                        
Accretion of redeemable preferred stock
   $ 14,404     $ 5,654     $ —     $ —     $ —  
 
                                        
Portion of rent expense representative of interest
   $ 15,883     $ 20,366     $ 24,723     $ 29,100     $ 33,161  
 
                                        
 
   $ 33,807     $ 32,983     $ 30,964     $ 31,964     $ 34,992  
 
                                        
 
                                        
Ratio of earnings to fixed charges
     1.30       1.63       2.26       3.00       3.52  
 
                                        

     For purposes of calculating the ratios,

     
(1)
  earnings include income from continuing operations before income taxes, fixed charges and a reduction for preference dividend to earnings; and
(2)
  fixed charges are interest expense incurred, amortization of debt expense and discount or premium related to any indebtedness, the interest component of rent and preference dividend to earnings.

     The ratio of earnings to fixed charges is calculated as follows:

      

(Earnings) + (Fixed Charges)
(Fixed Charges)