Exhibit 12.1
STATEMENT RE COMPUTATION OF EARNINGS TO FIXED CHARGES
Six Months Ended | ||||||||||||||||||||||||
June 30, | Year Ended December 31, | |||||||||||||||||||||||
(in thousands) | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income before income taxes | $ | 20,551 | $ | 7,769 | $ | 56,564 | $ | 47,610 | $ | 28,119 | $ | 11,933 | ||||||||||||
Add: | ||||||||||||||||||||||||
Amortization of capitalized interest | 35 | 35 | 32 | 19 | 13 | 8 | ||||||||||||||||||
Fixed charges, net of capitalized interest | 859 | 1,966 | 2,151 | 2,060 | 1,857 | 2,023 | ||||||||||||||||||
Income before income taxes and fixed charges, net | $ | 21,445 | $ | 9,770 | $ | 58,747 | $ | 49,689 | $ | 29,989 | $ | 13,964 | ||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Total interest expense | $ | 564 | $ | 1,695 | $ | 1,669 | $ | 1,630 | $ | 1,629 | $ | 1,873 | ||||||||||||
Capitalized interest | 0 | 75 | 390 | 186 | 149 | 239 | ||||||||||||||||||
Interest factor in rents | 295 | 271 | 482 | 430 | 228 | 150 | ||||||||||||||||||
Total fixed charges | $ | 859 | $ | 2,041 | $ | 2,541 | $ | 2,246 | $ | 2,006 | $ | 2,262 | ||||||||||||
Ratio of earnings to fixed charges | 25.0 | x | 4.8 | x | 23.1 | x | 22.1 | x | 15.0 | x | 6.2 | x |