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Exhibit 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Years ended December 31, | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2004 | 2003 | 2002 | 2001 | ||||||||||
| (in thousands) | |||||||||||||
Earnings: | ||||||||||||||
Pretax income from continuing operations | $ | 35,729 | $ | 25,029 | $ | 33,574 | $ | 15,607 | ||||||
Equity (earnings) losses from equity investee | (1,328 | ) | 162 | (1,347 | ) | (1,569 | ) | |||||||
Fixed Charges | 19,562 | 17,546 | 11,634 | 10,056 | ||||||||||
Distributed income of equity investee | 978 | 1,866 | 1,600 | 2,098 | ||||||||||
Capitalized interest | (353 | ) | (59 | ) | — | — | ||||||||
Total earnings | $ | 54,588 | $ | 44,544 | $ | 45,461 | $ | 26,192 | ||||||
Fixed charges: | ||||||||||||||
Interest expense | $ | 19,209 | $ | 17,487 | $ | 11,634 | $ | 10,056 | ||||||
Capitalized interest | 353 | 59 | — | — | ||||||||||
Total fixed charges | $ | 19,562 | $ | 17,546 | $ | 11,634 | $ | 10,056 | ||||||
Ratio of earnings to fixed charges | 2.79 | 2.54 | 3.91 | 2.60 | ||||||||||
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES