Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Expressed in thousands of U.S. Dollars, except ratios) | Nine Months Ended September 30, 2010 | Year End December 31, 2009 | Year End December 31, 2008 | Year End December 31, 2007 | Year End December 31, 2006 | Year End December 31, 2005 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Pre-tax income before income (loss) from equity investees | 227,833 | 256,236 | (174,086 | ) | 302,827 | 217,988 | 10,477 | |||||||||||||||||
Fixed charges | 22,071 | 23,260 | 37,462 | 43,562 | 14,503 | 23,235 | ||||||||||||||||||
Total Earnings (Loss) | $ | 249,904 | $ | 279,496 | $ | (136,624 | ) | $ | 346,389 | $ | 232,491 | $ | 33,712 | |||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest and amortization on indebtedness | $ | 20,446 | 21,453 | 36,143 | 42,702 | 13,832 | 22,764 | |||||||||||||||||
Rental expense at 33.3% (1) | 1,625 | 1,807 | 1,319 | 860 | 671 | 471 | ||||||||||||||||||
Total Fixed Charges | $ | 22,071 | $ | 23,260 | $ | 37,462 | $ | 43,562 | $ | 14,503 | $ | 23,235 | ||||||||||||
Ratio of Earnings to Fixed Charges | 11.3 | 12.0 | (3.6 | ) | 8.0 | 16.0 | 1.5 | |||||||||||||||||
Deficiency | N/A | N/A | $ | (174,086 | ) | N/A | N/A | N/A | ||||||||||||||||
(1) | 33.3% represents a reasonable approximation of the interest factor |