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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Avg
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Exhibit 12.1
Ratio of Earnings to Fixed Charges — As adjusted (See Note 2 to the Consolidated Financial Statements)
(in thousands)
|
| 2009 |
| 2008 |
| 2007 |
| 2006 |
| 2005 |
| |||||
Fixed Charges Computation: |
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|
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Preferred stock dividend |
| $ | — |
| $ | — |
| $ | 1,555 |
| $ | 1,927 |
| $ | 1,854 |
|
Interest expense |
| 24,084 |
| 34,853 |
| 38,574 |
| 12,467 |
| 5,075 |
| |||||
Assumed interest element included in rent expense |
| 2,608 |
| 2,313 |
| 1,446 |
| 1,278 |
| 935 |
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Total fixed charges and preferred stock dividend |
| $ | 26,692 |
| $ | 37,166 |
| $ | 41,575 |
| $ | 15,672 |
| $ | 7,864 |
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Earnings Computation: |
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Earnings before income taxes and equity in loss of investees and noncontrolling interests |
| $ | 442,302 |
| $ | 276,105 |
| $ | 121,861 |
| $ | 60,225 |
| $ | 35,703 |
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Less: |
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Preferred stock dividend |
| — |
| — |
| (1,555 | ) | (1,927 | ) | (1,854 | ) | |||||
Noncontrolling interests |
| — |
| (4,386 | ) | (6,083 | ) | (2,824 | ) | (816 | ) | |||||
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Add: |
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|
| �� |
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Fixed charges |
| 26,692 |
| 37,166 |
| 41,575 |
| 15,672 |
| 7,864 |
| |||||
Earnings as adjusted |
| $ | 468,994 |
| $ | 308,885 |
| $ | 155,798 |
| $ | 71,146 |
| $ | 40,897 |
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|
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|
|
| |||||
Ratio of earning to fixed charges |
| 17.6x |
| 8.3x |
| 3.9x |
| 5.2x |
| 6.8x |
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Ratio of earnings to fixed charges and preferred stock dividend |
| 17.6x |
| 8.3x |
| 3.7x |
| 4.5x |
| 5.2x |
|