EX-12.1 5 d12992exv12w1.txt COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES . . . EXHIBIT 12.1 CALCULATION OF EARNINGS TO FIXED CHARGES
YEAR ENDED DECEMBER 31, (IN THOUSANDS) 2003 2002 2001 2000 1999 --------- --------- --------- --------- --------- Income (loss) before income taxes, minority interest and cumulative effect of change in accounting principle $ 73,125 $ 129,933 $ 148,136 $ (70,924) $(127,776) Fixed charges: Interest and other expense and amortization of debt issuance costs 13,188 26,487 24,682 18,639 15,079 Capitalized interest 267 811 -- -- -- Interest portion of leases 7,109 8,413 8,506 6,133 5,033 --------- --------- --------- --------- --------- Total fixed charges 20,564 35,711 33,188 24,772 20,112 --------- --------- --------- --------- --------- Income (loss) before income taxes, minority interest and cumulative effect of change in accounting principle plus fixed charges, excluding capitalized interest $ 93,689 $ 165,644 $ 181,324 $ (46,152) $(107,664) Ratio: 4.6 4.6 5.5 -- -- Deficiency of earnings to fixed charges $ -- $ -- $ -- $ 70,924 $ 127,776
Interest expense excludes changes in fair value of the swap transactions of $(5.6) million and $1.4 million in 2003 and 2002, respectively.