Exhibit 12.1
| Computation of Ratio of Earnings to Fixed Charges | Six Months Ended June 30, | Twelve Months Ended December 31, | Six Months Ended December 31, | Twelve Months Ended June 30, | Six Months Ended June 30, | Twelve Months Ended December 31, | |||||||||||||||||||||||||||
| (In thousands) | 2003 | 2002 | 2001 | 2001 | 2000 | 2001 | 2000 | 1999 | 1998 | ||||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 4,209 | $ | (40,423 | ) | $ | 183,370 | $ | (19,620 | ) | $ | 37,345 | $ | 240,335 | $ | 106,547 | $ | 40,160 | $ | 212,482 | |||||||||||||
Fixed charges, as shown below | 20,038 | 50,358 | 47,952 | 18,787 | 33,179 | 62,343 | 61,670 | 33,792 | 54,109 | ||||||||||||||||||||||||
Equity in income of investees | 5,077 | 9,818 | (11,249 | ) | (796 | ) | (8,984 | ) | (19,437 | ) | (1,969 | ) | — | — | |||||||||||||||||||
Adjusted Earnings (Loss) | $ | 29,324 | $ | 19,753 | $ | 220,073 | $ | (1,629 | ) | $ | 61,540 | $ | 283,241 | $ | 166,248 | $ | 73,952 | $ | 266,591 | ||||||||||||||
Fixed charges: | |||||||||||||||||||||||||||||||||
Interest on indebtedness, expensed or capitalized | $ | 17,966 | $ | 46,213 | $ | 43,356 | $ | 16,564 | $ | 30,806 | $ | 57,598 | $ | 55,289 | $ | 30,504 | $ | 48,138 | |||||||||||||||
Interest within rent expense | 2,072 | 4,145 | 4,596 | 2,223 | 2,373 | 4,745 | 6,381 | 3,288 | 5,971 | ||||||||||||||||||||||||
Total Fixed Charges | $ | 20,038 | $ | 50,358 | $ | 47,952 | $ | 18,787 | $ | 33,179 | $ | 62,343 | $ | 61,670 | $ | 33,792 | $ | 54,109 | |||||||||||||||
Ratio of Earnings to Fixed Charges | 1.46 | (1 | ) | 4.59 | (2 | ) | 1.85 | 4.54 | 2.70 | 2.19 | 4.93 | ||||||||||||||||||||||
| (1) | The deficiency of earnings to cover fixed charges was $30,605 for the period ended December 31, 2002. |
| (2) | The deficiency of earnings to cover fixed charges was $20,416, for the period ended December 31, 2001. |
