EX-12.1 2 vci-exx121_20121231x10k.htm STATEMENTS OF COMPUTATION OF RATIOS VCI-EX-12.1_2012.12.31-10K


EXHIBIT 12.1

Statements of Computations of Ratios
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
(in thousands of U.S. dollars, except ratios)
2012
 
2011
 
2010
 
2009
 
2008
Fixed charges:
 
 
 
 
 
 
 
 
 
  Interest expense
$
28,666

 
$
35,696

 
$
64,904

 
$
87,041

 
$
98,903

  Portion of rent expense representative of interest
8,595

 
9,144

 
9,174

 
9,513

 
10,419

Total fixed charges
37,261

 
44,840

 
74,078

 
96,554

 
109,322

 
 
 
 
 
 
 
 
 
 
Earnings (loss):
 
 
 
 
 
 
 
 
 
  Earnings (loss) before income taxes
184,866

 
179,744

 
632,655

 
110,943

 
(215,837
)
  Fixed charges per above
37,261

 
44,840

 
74,078

 
96,554

 
109,322

Total earnings (loss)
222,127

 
224,584

 
706,733

 
207,497

 
(106,515
)
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
5.96

 
5.01

 
9.54

 
2.15

 
(a)

(a) Earnings for the year ended December 31, 2008 were inadequate to cover fixed charges by $215.8 million.