Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands of U.S. dollars, except ratios) | Nine Months Ended September 30, 2009 | Year End December 31, 2008 | Year End December 31, 2007 | Year End December 31, 2006 | Year End December 31, 2005 | Year End December 31, 2004 | |||||||||||||
Earnings: | |||||||||||||||||||
Pre-tax income (loss) | $ | 188,635 | $ | (174,086 | ) | $ | 302,827 | $ | 217,988 | $ | 10,477 | $ | 141,754 | ||||||
Fixed charges | 16,021 | 37,462 | 43,562 | 14,503 | 23,235 | 21,190 | |||||||||||||
Total Earnings (Loss) | $ | 204,656 | $ | (136,624 | ) | $ | 346,389 | $ | 232,491 | $ | 33,712 | $ | 162,944 | ||||||
Fixed Charges: | |||||||||||||||||||
Interest and amortization on indebtedness | $ | 14,741 | $ | 36,143 | $ | 42,702 | $ | 13,832 | $ | 22,764 | $ | 20,644 | |||||||
Rental expense at 33.3% (1) | 1,280 | 1,319 | 860 | 671 | 471 | 546 | |||||||||||||
Total Fixed Charges | $ | 16,021 | $ | 37,462 | $ | 43,562 | $ | 14,503 | $ | 23,235 | $ | 21,190 | |||||||
Ratio of Earnings to Fixed Charges | 12.77 | (3.7 | ) | 8.0 | 16.0 | 1.5 | 7.7 | ||||||||||||
Deficiency | N/A | $ | 174,086 | N/A | N/A | N/A | N/A | ||||||||||||
(1) | 33.3% represents a reasonable approximation of the interest factor |