EX-12.1 8 h33902exv12w1.htm RATIO OF EARNINGS TO FIXED CHARGES exv12w1
 

EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Our ratio of earnings to fixed charges is as follows:
                                         
    Year Ended December 31,  
    2005     2004     2003     2002     2001  
    (In Thousands, Except Ratio)  
Earnings:
                                        
Income before income taxes
   $ 33,001     $ 7,673     $ 4,537     $ 7,681     $ 49,833  
Interest expense
     16,155       14,797       15,251       12,286       15,438  
Capitalized expenses related to indebtedness
     801       746       442       617       651  
Portion of rents representative of the interest factor
     1,560       1,440       1,440       966       1,208  
 
 
   $ 51,517     $ 24,656     $ 21,670     $ 21,550     $ 67,130  
 
Fixed Charges:
                                        
Interest expense, including amount capitalized
     16,915       15,120       15,945       13,011       16,095  
Capitalized expenses related to indebtedness
     801       746       442       617       651  
Portion of rents representative of the interest factor
     1,560       1,440       1,440       966       1,208  
     
 
   $ 19,276     $ 17,306     $ 17,827     $ 14,594     $ 17,954  
     
 
                                        
Ratio of earnings to fixed charges
     2.67       1.42       1.22       1.48       3.74