EX-12.1 5 dex121.htm COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Computation of Ratios of Earnings to Fixed Charges

EXHIBIT 12.1

 

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

     Year Ended December 31,

 
     1999

    2000

    2001

    2002

    2003

 

Income (loss) before income taxes and losses from joint venture

   $ (21,937 )   $ (28,247 )   $ (182,305 )   $ (135,765 )   $ (165,986 )

Fixed charges

     3,178       14,720       14,451       13,630       12,399  
    


 


 


 


 


Total earnings and fixed charges

     (18,759 )     (13,527 )     (167,854 )     (122,135 )     (153,587 )

Fixed charges

     3,178       14,720       14,451       13,630       12,399  

Ratio of earnings to fixed charges (1) (2)

     NM       NM       NM       NM       NM  
    


 


 


 


 



(1) The ratio of earnings to fixed charges is computed by dividing income (loss) before taxes and losses from joint venture plus fixed charges by fixed charges. Fixed charges consist of interest expense (including interest expense from capital leases) and the estimated portion of rental expense deemed by us to be representative of the interest factor of rental payments under operating leases. Earnings were insufficient to cover fixed charges for the years ended December 31, 1999, 2000, 2001, 2002 and 2003 by approximately $21.9 million, $28.3 million, $182.3 million, $135.8 million and $166.0 million, respectively.
(2) NM — Not meaningful.