EX-99.7 9 c51973exv99w7.htm EX-99.7 exv99w7
Exhibit 99.7
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                         
    Year Ended December 31,  
    2008     2007     2006     2005     2004  
    (dollars in thousands)  
Fixed Charges
                                        
1 Interest expensed and capitalized
   $ 38,728     $ 29,880     $ 13,178     $ 15,102     $ 14,731  
2 An estimate of the interest factor in rental expense
     4,367       5,418       4,607       4,165       2,859  
 
                              
 
Total Fixed Charges
   $ 43,095     $ 35,298     $ 17,785     $ 19,267     $ 17,590  
 
                              
 
                                        
Earnings
                                        
1 Pre-tax income (loss) from continuing operations before minority interests
   $ (368,470 )   $ 200,113     $ 112,463     $ 58,239     $ 24,968  
2 Fixed charges
     43,095       35,298       17,785       19,267       17,590  
3 Amortization of capitalized interest (less interest capitalized)
     (572 )     (796 )     102       207       316  
 
                              
 
Total Earnings
   $ (325,947 )   $ 234,615     $ 130,350     $ 77,713     $ 42,874  
 
                              
 
Ratio of Earnings to Fixed Charges (1)
     —       6.6       7.3       4.0       2.4  
 
                              
 
(1)   Earnings were inadequate to cover fixed charges by $369.0 million in 2008.

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