EX-12.1 8 a2081738zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1


COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(Unaudited)

 
   Three Months
Ended
March 31,
   Years Ended December 31,
 
   2002
   2001
   2000
   1999
   1998
   1997
 
   (In Thousands)
EARNINGS                          
  Earnings (loss) before minority interest, income taxes, extraordinary items, amortization of capitalized interest, and net equity in undistributed earnings of subsidiaries   $ (1,957 ) 188,607   135,675   17,127   (223,604 ) 6,490
  Add fixed charges (excluding portion capitalized)     12,770   52,657   62,606   42,475   40,302   22,786
   
 
 
 
 
 
 
Earnings (loss) available for fixed charges
 
$
10,813
 
241,264
 
198,281
 
59,602
 
(183,302
)
29,276
   
 
 
 
 
 

FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
  Interest cost and amortization of debt discount   $ 12,145   49,910   62,966   40,873   38,986   21,403
  Portion of rental cost equivalent to interest (estimated to be one-third of rental cost)     1,097   4,861   3,677   2,650   2,028   1,756
   
 
 
 
 
 
 
Total fixed charges
 
$
13,242
 
54,771
 
66,643
 
43,523
 
41,014
 
23,159
   
 
 
 
 
 

Ratio of earnings to fixed charges
 
 
(1
)
4.4
 
3.0
 
1.4
 
(1
)
1.3
   
 
 
 
 
 
(1)
The earnings for the three months ended March 31, 2002 and for the year ended December 31, 1998 were inadequate to cover fixed charges. The coverage deficiencies were $2,429,000 and $224,316,000, respectively.


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COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (Unaudited)