Exhibit 12.1
Year Ended December 31, | Three Months Ended March 31, | |||||||||||||||||||||||||
2002 | 2001 | 2000 | 1999 | 1998 | 2003 | 2002 | ||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||
Net income (loss), before accrual of preferred interests | $ | (42,044 | ) | $ | (263,196 | ) | $ | (132,110 | ) | $ | (62,677 | ) | $ | 1,618 | $ | 15,653 | $ | (14,905 | ) | |||||||
Adjustments to net income (loss), before accrual of preferred interests for fixed charges: | ||||||||||||||||||||||||||
Interest expense |
| 180,465 |
|
| 188,609 |
|
| 113,054 |
|
| 51,235 |
|
| 5,862 |
| 46,292 |
| 44,586 |
| |||||||
Interest portion of rent expense |
| 1,115 |
|
| 1,129 |
|
| 767 |
|
| 736 |
|
| 84 |
| 268 |
| 277 |
| |||||||
Amortization of financing costs |
| 3,013 |
|
| 2,741 |
|
| 922 |
|
| 774 |
|
| 63 |
| 929 |
| 695 |
| |||||||
Total fixed charges |
| 184,593 |
|
| 192,479 |
|
| 114,743 |
|
| 52,745 |
|
| 6,009 |
| 47,489 |
| 45,558 |
| |||||||
Earnings | $ | 142,549 |
| $ | (70,717 | ) | $ | (17,367 | ) | $ | (9,932 | ) | $ | 7,627 | $ | 63,142 | $ | 30,653 |
| |||||||
Ratio of earnings to total fixed charges |
| — |
|
| — |
|
| — |
|
| — |
|
| 1.3x |
| 1.3x |
| — |
| |||||||