EX-12.1 5 v117626_ex12-1.htm
Computation of Ratios
Exhibit 12.1

   
Quarter Ended
 
Years ended December 31,
 
(dollar amount in thousands)
 
 
                     
   
3/31/2008
 
2007
 
2006
 
2005
 
2004
 
2003
 
Earnings:
                                     
Pretax income (loss) from continuing operations
 
$
(21,438
)
$
(55,268
)
$
(23,525
)
$
(13,889
)
$
3,688
 
$
13,726
 
Fixed Charges
   
11,979
   
52,757
   
72,939
   
60,104
   
16,012
   
3,266
 
Distributed income of equity investees
   
-
   
1,814
   
11,524
   
17,268
   
7,605
   
21,565
 
Total Earnings
 
$
(9,459
)
$
(697
)
$
60,938
 
$
63,483
 
$
27,305
 
$
38,557
 
                                       
Fixed Charges:
                                     
Interest Expense
 
$
11,979
 
$
52,757
 
$
72,939
 
$
60,104
 
$
16,012
 
$
3,266
 
Amortized premiums & discounts related to indebtedness
   
-
   
-
   
-
   
-
   
-
   
-
 
Capitalized expenses related to indebtedness
   
-
   
-
   
-
   
-
   
-
   
-
 
Capitalized Interest
   
-
   
-
   
-
   
-
   
-
   
-
 
Preference security dividends
   
-
   
-
   
-
   
-
   
-
   
-
 
Total Fixed Charges
 
$
11,979
 
$
52,757
 
$
72,939
 
$
60,104
 
$
16,012
 
$
3,266
 
                                       
Ratio of earnings to fixed charges
   
(0.79
)
 
(0.01
)
 
0.84
   
1.06
   
1.71
   
11.81
 
                                       
Dollar amount of deficiency
 
$
21,438
 
$
53,454
 
$
12,001
   
-
   
-
   
-