EX-12.1 2 a51537exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Calculation of Ratio of Earnings to Fixed Charges
                                         
    Year Ended December 31,  
    2004     2005     2006     2007     2008  
    (In thousands, except ratio of earnings to fixed charges)  
Income from continuing operations before income taxes
   $ 43,919     $ 73,230     $ 194,559     $ 226,543     $ 164,625  
Fixed charges(1)
                                        
Interest expense
     1,661       5,934       3,474       3,512       3,486  
Amortization of debt issuance cost
     253       3,318       631       601       668  
Interest included in rental expense
     425       632       918       899       992  
 
                              
Total fixed charges
   $ 2,339     $ 9,884     $ 5,023     $ 5,012     $ 5,146  
 
                              
Earnings(2)
   $ 46,258     $ 83,114     $ 199,582     $ 231,555     $ 169,771  
Ratio of earnings to fixed charges
     19.8       8.4       39.7       46.2       33.0  
 
(1)   “Fixed charges” consist of interest expense on indebtedness, amortization of debt issuance costs and the estimated portion of rental expense deemed a reasonable approximation of this interest factor.
 
(2)   “Earnings” consist of income from continuing operations before income taxes plus fixed charges.