EX-12.1 3 dex121.htm STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES Prepared by R.R. Donnelley Financial -- Statement of Ratio of Earnings to Fixed Charges
 
Exhibit 12.1
 
Computation of Ratio of Earnings to Fixed Charges
 
    
Year ended December 31,
       
Three months ended
March 31, 2002
    
1999
   
2000
     
2001
       
    
(thousands of dollars)
Income (loss) before income taxes
   
$
36,120
   
$
(13,694
)
   
$
(11,310
)
     
$
7,015
Plus fixed charges:
                                  
Interest expense
   
 
10,562
   
 
13,106
 
   
 
10,433
 
     
 
850
Portion of rent expense representative of interest expense
   
 
3,805
   
 
4,362
 
   
 
3,847
 
     
 
961
    
  
  
    
Adjusted earnings
   
 
50,487
   
 
3,774
 
   
 
2,970
 
     
 
8,826
Fixed charges
   
$
14,367
   
$
17,468
 
   
$
14,280
 
     
$
1,811
Ratio of earnings to fixed charges
   
 
3.51
                       
 
4.87
    
                      
Deficiency of earnings to cover fixed charges
          
$
13,694
 
   
$
11,310