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Exhibit 12.1
Calculation of Earnings to Fixed Charges
| Year Ended December 31, | Nine Months Ended September 30, 2004 | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1999 | 2000 | 2001 | 2002 | 2003 | |||||||||||||
Fixed Charges | $ | 1,941 | $ | 1,897 | $ | 1,507 | $ | 1,614 | $ | 4,424 | $ | 9,597 | ||||||
Earnings | ||||||||||||||||||
Add: | ||||||||||||||||||
(a) Pre-tax income from continuing operations | $ | 4,302 | $ | 14,474 | $ | 4,210 | $ | 4,614 | $ | 5,778 | $ | 6,772 | ||||||
(b) Fixed charges | 1,941 | 1,897 | 1,507 | 1,614 | 4,424 | 9,597 | ||||||||||||
(c) Amortization of capitalized interest | — | — | — | — | — | — | ||||||||||||
(d) Distributed income of equity investees | — | — | — | — | — | — | ||||||||||||
(e) Share of pre-tax losses of equity investees | — | — | — | — | — | — | ||||||||||||
Subtract: | ||||||||||||||||||
(a) Interest capitalized | — | — | — | — | — | — | ||||||||||||
(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 | $ | 6,228 | $ | 10,202 | $ | 16,369 | ||||||
Ratio | 3.22 | 8.63 | 3.79 | 3.86 | 2.31 | 1.71 | ||||||||||||
Calculation of Earnings to Fixed Charges