Exhibit 12.1
The following illustrates the computation of the historical ratio of earnings to fixed charges:
| FISCAL YEAR ENDED DECEMBER 31, | |||||||||||||||||||
| 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||||||
Fixed Charges : | |||||||||||||||||||
Interest on debt and capitalized leases | $ | 5,852 | $ | 9,873 | $ | 7,926 | $ | 6,706 | $ | 18,568 | |||||||||
Amortization of debt discount and expense | 414 | 572 | 1,159 | 1,945 | 3,765 | ||||||||||||||
Interest element of rentals * | 3,698 | 3,572 | 3,698 | 3,484 | 4,255 | ||||||||||||||
Investee’s fixed charges | — | 241 | 487 | — | — | ||||||||||||||
Total Fixed Charges | $ | 9,964 | $ | 14,258 | $ | 13,270 | $ | 12,135 | $ | 26,588 | |||||||||
Earnings : | |||||||||||||||||||
Net income (loss) | $ | 50,915 | $ | 68,018 | $ | 15,301 | $ | (93,902 | ) | $ | 40,683 | ||||||||
Add back: | |||||||||||||||||||
Loss (Income) from discontinued operations | (12,169 | ) | (6,413 | ) | (4,712 | ) | 117,875 | — | |||||||||||
Income tax provision | 28,404 | 43,522 | 6,770 | 13,613 | 26,131 | ||||||||||||||
Loss on equity method investment | — | 3,329 | 5,741 | — | — | ||||||||||||||
Fixed charges less interest capitalized | 9,944 | 14,244 | 13,065 | 12,135 | 26,588 | ||||||||||||||
Total Earnings | $ | 77,094 | $ | 122,700 | $ | 36,165 | $ | 49,721 | $ | 93,402 | |||||||||
Ratio of Earnings to Fixed Charges | 7.7 | 8.6 | 2.7 | 4.1 | 3.5 | ||||||||||||||
| * | We determined the interest component of rent expense to be 10%. |