EX-12.1 3 dex121.htm STATEMENT OF COMPUTATION OF RATIOS Statement of Computation of Ratios

Exhibit 12.1

 

The following illustrates the computation of the historical ratio of earnings to fixed charges:

 

     FISCAL YEAR ENDED DECEMBER 31,
     1999
     2000
     2001
     2002
     2003

Fixed Charges :

                                       

Interest on debt and capitalized leases

    $ 5,852     $ 9,873     $ 7,926     $ 6,706     $ 18,568

Amortization of debt discount and expense

      414       572       1,159       1,945       3,765

Interest element of rentals *

      3,698       3,572       3,698       3,484       4,255

Investee’s fixed charges

      —         241       487       —         —  
    
 
 
 
 

Total Fixed Charges

    $ 9,964     $ 14,258     $ 13,270     $ 12,135     $ 26,588
    
 
 
 
 

Earnings :

                                       

Net income (loss)

    $ 50,915     $ 68,018     $ 15,301     $ (93,902 )   $ 40,683

Add back:

                                       

Loss (Income) from discontinued operations

      (12,169 )     (6,413 )     (4,712 )     117,875       —  

Income tax provision

      28,404       43,522       6,770       13,613       26,131

Loss on equity method investment

      —         3,329       5,741       —         —  

Fixed charges less interest capitalized

      9,944       14,244       13,065       12,135       26,588
    
 
 
 
 

Total Earnings

    $ 77,094     $ 122,700     $ 36,165     $ 49,721     $ 93,402
    
 
 
 
 

Ratio of Earnings to Fixed Charges

      7.7       8.6       2.7       4.1       3.5
    
 
 
 
 
*   We determined the interest component of rent expense to be 10%.