Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except for ratios)
(in thousands, except for ratios)
Nine Months Ended | ||||||||||||||||||||||||||||
September 30, | ||||||||||||||||||||||||||||
2001 | 2002 | 2003 | 2004 | 2005 | 2005 | 2006 | ||||||||||||||||||||||
Interest | $ | 15,178 | $ | 18,792 | $ | 12,861 | $ | 5,006 | $ | 2,101 | $ | 2,033 | $ | 50 | ||||||||||||||
Add interest element implicit on rentals | 2,600 | 3,657 | 2,693 | 2,147 | 1,716 | 1,287 | 1,747 | |||||||||||||||||||||
Total Fixed Charges | $ | 17,778 | $ | 22,449 | $ | 15,554 | $ | 7,153 | $ | 3,817 | $ | 3,320 | $ | 1,797 | ||||||||||||||
Pretax income from continuing operations | $ | (47,671 | ) | $ | (121,213 | ) | $ | (47,664 | ) | $ | (30,402 | ) | $ | 51,788 | $ | 29,759 | $ | 74,597 | ||||||||||
Add fixed charges | 17,778 | 22,449 | 15,554 | 7,153 | 3,817 | 3,320 | 1,797 | |||||||||||||||||||||
$ | (29,893 | ) | $ | (98,764 | ) | $ | (32,110 | ) | $ | (23,249 | ) | $ | 55,605 | $ | 33,079 | $ | 76,394 | |||||||||||
Deficiency | $ | (65,449 | ) | $ | (143,662 | ) | $ | (63,218 | ) | $ | (37,555 | ) | N/A | N/A | N/A | |||||||||||||
Ratio of earnings to fixed charges (1) | (2 | ) | (3 | ) | (4 | ) | (5 | ) | 14.57 | 9.96 | 42.52 |
(1) | For purposes of the calculation of ratio of earnings to fixed charges, earnings are defined as earnings before income taxes plus fixed charges. Fixed charges consist of interest expense on all indebtedness and rental expense. | |
(2) | As a result of the loss for the fiscal year ended December 31, 2001 earnings did not cover fixed charges by $65,449 | |
(3) | As a result of the loss for the fiscal year ended December 31, 2002 earnings did not cover fixed charges by $143,662 | |
(4) | As a result of the loss for the fiscal year ended December 31, 2003 earnings did not cover fixed charges by $63,218 | |
(5) | As a result of the loss for the fiscal year ended December 31, 2004 earnings did not cover fixed charges by $37,555 |