EX-12.1 18 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,
     
Pro Forma year ended December 31, 2001
    

Three months ended
March 31,
   
Pro Forma
three months
ended
March 31, 2002
   
1997
    
1998
  
1999
  
2000
    
2001
       
2001
    
2002
   
             
(thousands of dollars)
                 
Income (loss) before income taxes and cumulative effect of change in accounting
  
$
(45,592
)
  
$
24,756
  
$
36,120
  
$
(13,694
)
  
$
(11,310
)
   
$
(14,272
)
  
$
(5,799
)
  
$
7,015
   
$
7,371
Plus fixed charges:
                                                                  
Interest expense
  
 
13,422
 
  
 
10,670
  
 
10,562
  
 
13,106
 
  
 
10,433
 
   
 
13,548
 
  
 
3,591
 
  
 
850
   
 
1,400
Portion of rent expense representative of interest expense*
  
 
3,795
 
  
 
3,762
  
 
3,805
  
 
4,362
 
  
 
3,847
 
   
 
3,847
 
  
 
945
 
  
 
961
   
 
961
   
 
 
 
 
  
 
 
  
Adjusted earnings
  
 
(28,375
)
  
 
39,188
  
 
50,487
  
 
3,774
 
  
 
2,970
 
   
 
3,123
 
  
 
(1,263
)
  
 
8,826
   
 
9,732
Fixed charges
  
 
17,217
 
  
$
14,432
  
$
14,367
  
 
17,468
 
  
 
14,280
 
   
 
17,395
 
  
$
4,536
 
  
$
1,811
   
 
2,361
Ratio of earnings to fixed charges
          
 
2.71
  
 
3.51
                                   
 
4.87
   
 
4.12
           
 
                                  
  
Deficiency of earnings to cover fixed charges
  
$
45,592
 
              
$
13,694
 
  
$
11,310
 
   
$
14,272
 
  
$
5,799
 
             
   
             
 
  
 
            
*
One-third of total rental expense.