EX-12.1 2 w30815exv12w1.htm EXHIBIT 12.1 exv12w1
 

EXHIBIT 12.1
Ratio of Earnings to Fixed Charges
(dollars in thousands, except ratio data)
                                         
    Year Ended December 31,  
    2006     2005     2004     2003     2002  
Fixed Charges:
                                       
Interest expense on indebtedness (including amortization of debt expense and discount)
  $ 29,492     $ 17,849     $ 22,868     $ 23,723     $ 23,746  
 
                                       
Interest expense on portion of rent expense representative of interest
    19,899       14,614       9,089       7,604       7,206  
 
                             
 
                                       
Total Fixed Charges
  $ 49,391     $ 32,463     $ 31,957     $ 31,327     $ 30,952  
 
                             
 
                                       
Earnings (Loss):
                                       
Net loss before provision for income taxes and cumulative effect of change in accounting principle
  $ (251,173 )   $ (239,439 )   $ (242,898 )   $ (185,324 )   $ (219,716 )
 
                                       
Fixed Charges per above
    49,391       32,463       31,957       31,327       30,952  
 
                             
 
                                       
Total Earnings (Loss)
  $ (201,782 )   $ (206,976 )   $ (210,941 )   $ (153,997 )   $ (188,764 )
 
                             
 
                                       
Ratio of Earnings to Fixed Charges
                             
 
                                       
Coverage deficiency(1)(2)(3)
  $ (251,173 )   $ (239,439 )   $ (242,898 )   $ (185,324 )   $ (219,716 )
 
                             
 
(1)   The Company’s Coverage deficiency for 2006 includes charges for lease termination and restructuring of $29,510 partially offset by a gain on the sale of an equity investment of $14,759.
 
(2)   The Company’s Coverage deficiency for 2004 includes net charges of $12,975, relating to a $15,408 charge for restructuring partially offset by a gain recognized on the extinguishment of debt of $2,433.
 
(3)   The Company’s Coverage deficiency for 2002 includes charges aggregating $46,396 arising from the Company’s impairment charge relating to its investment in CAT and a charge for construction design changes of $32,158 and $14,238, respectively.