EX-12.1 6 a2077405zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

Ratio of Earnings to Fixed Charges

 
   Years Ended December 31
  
 
   1997
   1998
   1999
   2000
   2001
  
 
   (in thousands except ratio)

  
Pretax earnings from continuing operations   $ 4,751   $ 7,935   $ 7,654   $ 24,758   $ 61,365  
Fixed charges                                
  Interest expense     829     1,959     2,090     3,570     8,610  
  Capitalized interest     40     448     351     626     1,172  
   
 
 
 
 
 
Total fixed charges     869     2,407     2,441     4,196     9,782  
Less capitalized interest     (40 )   (448 )   (351 )   (626 )   (1,172 )
   
 
 
 
 
 
      829     1,959     2,090     3,570     8,610  

Adjusted earnings
 
$
5,580
 
$
9,894
 
$
9,744
 
$
28,328
 
$
69,975
 

Ratio of earnings to fixed charges
 
 
6.42
 
 
4.11
 
 
3.99
 
 
6.75
 
 
7.15
 

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

 
   Years Ended December 31
  
 
   1997
   1998
   1999
   2000
   2001
  
 
   (in thousands except ratio)

  
Pretax earnings from continuing operations   $ 4,751   $ 7,935   $ 7,654   $ 24,758   $ 61,365  
Fixed charges                                
  Interest expense     829     1,959     2,090     3,570     8,610  
  Capitalized interest     40     448     351     626     1,172  
  Preferred stock dividends     400     —     —     2,929     —  
   
 
 
 
 
 
Total fixed charges     1,269     2,407     2,441     7,125     9,782  
Less capitalized interest     (40 )   (448 )   (351 )   (626 )   (1,172 )
   
 
 
 
 
 
      1,229     1,959     2,090     6,499     8,610  

Adjusted earnings
 
$
5,980
 
$
9,894
 
$
9,744
 
$
31,257
 
$
69,975
 

Ratio of earnings to fixed charges
 
 
4.71
 
 
4.11
 
 
3.99
 
 
4.39
 
 
7.15
 


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