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Exhibit 12.1
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| | For the year ended December 31, | For the nine months ended September 30, 2005 | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2000 | 2001 | 2002 | 2003 | 2004 | ||||||||||||||
| | (dollars in thousands) | | |||||||||||||||||
| Income (loss) before gain on disposal of real estate assets, discontinued operations, provision for income taxes and extraordinary loss | $ | (70,136 | ) | $ | 48,687 | $ | 34,685 | $ | 96,135 | $ | 100,173 | $ | 83,537 | ||||||
Interest Expense | |||||||||||||||||||
| Notes payable and other debt | 86,803 | 79,595 | 72,384 | 61,660 | 66,817 | 72,515 | |||||||||||||
| United States Settlement | — | 4,592 | 5,461 | 4,943 | — | — | |||||||||||||
| Earnings | $ | 16,667 | $ | 132,874 | $ | 112,530 | $ | 162,738 | $ | 166,990 | $ | 156,052 | |||||||
Interest Expense | |||||||||||||||||||
| Notes payable and other debt | $ | 86,803 | $ | 79,595 | $ | 72,384 | $ | 61,660 | $ | 66,817 | $ | 72,515 | |||||||
| United States Settlement | — | 4,592 | 5,461 | 4,943 | — | — | |||||||||||||
| Fixed Charges | $ | 86,803 | $ | 84,187 | $ | 77,845 | $ | 66,603 | $ | 66,817 | $ | 72,515 | |||||||
| Ratio of Earnings to Fixed Charges and preferred stock dividends(a) | — | 1.58 | 1.45 | 2.44 | 2.50 | 2.15 | |||||||||||||
- (a)
- Earnings were insufficient to cover fixed charges by $69.7 million in 2000. Earnings in 2000 were reduced by $96.5 million for the United States Settlement.
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES