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Computation of Ratios of Earnings to Fixed Charges
| Years Ended December 31, | Three Months Ended March 31, | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1998 | 1999 | 2000 | 2000 | 2001 | |||||||||||||
INCOME AVAILABLE FOR FIXED CHARGES | ||||||||||||||||||
Income before income taxes and minority interest and extraordinary items | $ | 33,906 | $ | 77,301 | $ | 118,156 | $ | 32,298 | $ | 28,792 | ||||||||
Fixed Charges | 62,312 | 52,411 | 39,802 | 11,343 | 12,905 | |||||||||||||
Less capitalized interest | (1,086 | ) | (115 | ) | (717 | ) | (66 | ) | (123 | ) | ||||||||
Less minority partner preferred equity return | (2,360 | ) | (2,063 | ) | (1,527 | ) | (455 | ) | (162 | ) | ||||||||
Income available for fixed charges | $ | 92,772 | $ | 127,534 | $ | 155,714 | $ | 43,120 | $ | 41,412 | ||||||||
FIXED CHARGES | ||||||||||||||||||
Interest expense | $ | 57,487 | $ | 48,594 | $ | 34,768 | $ | 10,107 | $ | 11,882 | ||||||||
Minority partner preferred equity return | 2,360 | 2,063 | 1,527 | 455 | 162 | |||||||||||||
Capitalized interest | 1,086 | 115 | 717 | 66 | 123 | |||||||||||||
Interest portion of rent expense | 1,379 | 1,639 | 2,790 | 715 | 738 | |||||||||||||
Total fixed charges | $ | 62,312 | $ | 52,411 | $ | 39,802 | $ | 11,343 | $ | 12,905 | ||||||||
Ratio of earnings to fixed charges | 1.5 | x | 2.4 | x | 3.9 | x | 3.8 | x | 3.2 | x |
| Pro Forma Year Ended December 31, 2000 | Pro Forma Three Months ended March 31, 2001 | |||||||
---|---|---|---|---|---|---|---|---|---|
INCOME AVAILABLE FOR FIXED CHARGES | |||||||||
Income before income taxes and minority interest and extraordinary items | $ | 83,975 | $ | 29,222 | |||||
Fixed Charges | 122,441 | 27,123 | |||||||
Less capitalized interest | (717 | ) | (123 | ) | |||||
Income available for fixed charges | $ | 195,699 | $ | 56,222 | |||||
FIXED CHARGES | |||||||||
Interest expense | $ | 108,813 | $ | 26,234 | |||||
Capitalized interest | 717 | 123 | |||||||
Interest portion of rent expense | 2,911 | 766 | |||||||
Total fixed charges | $ | 112,441 | $ | 27,123 | |||||
Ratio of earnings to fixed charges | 1.7 | x | 2.1 | x |
Computation of Ratios of Earnings to Fixed Charges