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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Good
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Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in thousands)
|
| 2007 |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| |||||
Fixed Charges Computation: |
|
|
|
|
|
|
|
|
|
|
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Preferred stock dividend |
| $ | 1,555 |
| $ | 1,927 |
| $ | 1,854 |
| $ | 1,512 |
| $ | 1,491 |
|
Interest expense |
| 10,412 |
| 7,060 |
| 5,075 |
| 3,722 |
| 907 |
| |||||
Assumed interest element included in rent expense |
| 1,446 |
| 1,278 |
| 935 |
| 778 |
| 735 |
| |||||
Total fixed charges and preferredstock dividend |
| 13,413 |
| 10,265 |
| 7,864 |
| 6,012 |
| 3,133 |
| |||||
Earnings Computation: |
|
|
|
|
|
|
|
|
|
|
| |||||
Earnings before income taxes and equity inincome (loss) of investees and minority interests |
| 150,023 |
| 65,632 |
| 35,703 |
| 31,827 |
| 9,585 |
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Less: |
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Preferred stock dividend |
| (1,555 | ) | (1,927 | ) | (1,854 | ) | (1,512 | ) | (1,491 | ) | |||||
Minority interests |
| (6,083 | ) | (2,824 | ) | (816 | ) | (114 | ) | — |
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Add: |
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|
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|
|
|
|
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Fixed charges |
| 13,413 |
| 10,265 |
| 7,864 |
| 6,012 |
| 3,133 |
| |||||
Earnings as adjusted |
| $ | 155,798 |
| $ | 71,146 |
| $ | 40,897 |
| $ | 36,213 |
| $ | 11,227 |
|
Ratio of earning to fixed charges |
| 13.1x |
| 8.5x |
| 6.8x |
| 8.0x |
| 6.8x |
| |||||
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Ratio of earnings to fixed charges and preferredstock dividend |
| 11.6x |
| 6.9x |
| 5.2x |
| 6.0x |
| 3.6x |
|