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Exhibit 12
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Fiscal Year Ended December 31, | Six Months Ended June 30, | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1996 | 1997 | 1998 | 1999 | 2000 | 2000 | 2001 | ||||||||
Income before taxes, extraordinary losses, equity losses, special bonus award and non-recurring items | 22,456 | 62,635 | 93,647 | 175,578 | 229,832 | 105,398 | 96,919 | ||||||||
Fixed Charges | 46,258 | 44,550 | 40,945 | 32,884 | 36,902 | 15,789 | 22,584 | ||||||||
Total Earnings | 68,714 | 107,185 | 134,592 | 208,462 | 266,734 | 121,187 | 119,503 | ||||||||
Fixed Charges: | |||||||||||||||
Interest expense | 41,691 | 40,147 | 35,830 | 27,459 | 30,097 | 13,113 | 19,185 | ||||||||
Estimated rent expense interest (1/3) | 1,633 | 2,773 | 3,438 | 3,984 | 5,444 | 1,992 | 2,722 | ||||||||
Amortization of deferred financing costs | 2,934 | 1,630 | 1,677 | 1,441 | 1,361 | 684 | 677 | ||||||||
Total Fixed Charges | 46,258 | 44,550 | 40,945 | 32,884 | 36,902 | 15,789 | 22,584 | ||||||||
Ratio of Earnings to Fixed Charges | 1.5 | x | 2.4 | x | 3.3 | x | 6.3 | x | 7.2 | x | 7.7 | x | 5.3 | x |
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES