EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| | | | | | | | |
| | 2003
| | 2002
| | 2001
| | 2000
|
| | | | (as restated) |
Earnings: | | | | | | | | |
Income before taxes and minority interest | | 47,589 | | 63,078 | | 33,125 | | 32,200 |
Add: Fixed charges | | 26,940 | | 25,618 | | 33,961 | | 45,730 |
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Total earnings | | 74,529 | | 88,696 | | 67,086 | | 77,930 |
Fixed charges: | | | | | | | | |
Interest expense, including amortization of deferred loan costs | | 26,088 | | 25,056 | | 33,424 | | 45,230 |
Interest expense estimate within rental expense | | 852 | | 562 | | 537 | | 500 |
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Total fixed charges | | 26,940 | | 25,618 | | 33,961 | | 45,730 |
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Earnings / Fixed Charges | | 2.77 | | 3.46 | | 1.98 | | 1.70 |
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COMPUTATION OF RATIO OF PROFORMA EARNINGS TO FIXED CHARGES
| | | | | | |
| | 2003
| | | 2002
| |
Pro forma earnings: | | | | | | |
Income before taxes and minority interest | | 47,589 | | | 63,078 | |
Add: Proforma fixed charges | | 32,491 | | | 32,009 | |
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Total pro forma earnings | | 80,080 | | | 95,087 | |
Pro forma fixed charges | | | | | | |
Interest expense, including amortization of deferred loan costs | | 26,088 | | | 25,056 | |
Add: Increase in interest, including amortization of deferred loan costs on senior subordinated notes computed as if issued as of the beginning of the period Parent debt were repaid at beginning of period | | 31,639 | | | 31,447 | |
Less: Interest expense, included amortization of deferred loan costs on Parent debt assuming repayment at beginning of period | | (26,088 | ) | | (25,056 | ) |
Interest expense estimate within rental expense | | 852 | | | 562 | |
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Total proforma fixed charges | | 32,491 | | | 32,009 | |
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Pro forma Earnings / Fixed Charges | | 2.46 | | | 2.97 | |
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