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Exhibit 12.1
Calculation of Earnings to Fixed Charges
| Year Ended December 31, | Nine Months Ended September 30, 2005 | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | ||||||||||||||||
Fixed Charges | $ | 1,941 | $ | 1,897 | $ | 1,507 | $ | 1,619 | $ | 4,438 | $ | 16,209 | $ | 17,192 | ||||||||
Earnings | ||||||||||||||||||||||
Add: | ||||||||||||||||||||||
(a) Pre-tax income from continuing operations | $ | 4,302 | $ | 14,474 | $ | 4,210 | $ | 4,486 | $ | 4,759 | $ | 10,026 | $ | 5,547 | ||||||||
(b) Fixed charges | 1,941 | 1,897 | 1,507 | 1,619 | 4,438 | 16,209 | 17,192 | |||||||||||||||
(c) Amortization of capitalized interest | — | — | — | — | — | 2 | 25 | |||||||||||||||
(d) Distributed income of equity investees | — | — | — | — | — | — | — | |||||||||||||||
(e) Share of pre-tax losses of equity investees | — | — | — | — | — | — | — | |||||||||||||||
Subtract: | ||||||||||||||||||||||
(a) Interest capitalized | — | — | — | — | — | (793 | ) | (1,324 | ) | |||||||||||||
(b) Preference security dividend requirements of consolidated subsidiaries | — | — | — | — | — | — | — | |||||||||||||||
(c) Minority interest in pre-tax income of subsidiaries that have not incurred fixed charges | — | — | — | — | — | — | — | |||||||||||||||
Equals Earnings | $ | 6,243 | $ | 16,371 | $ | 5,717 | $ | 6,105 | $ | 9,197 | $ | 25,444 | $ | 21,440 | ||||||||
Ratio | 3.22 | 8.63 | 3.79 | 3.77 | 2.07 | 1.57 | 1.25 | |||||||||||||||
Calculation of Earnings to Fixed Charges