Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years ended December 31, | ||||||||||||||||||||||||||||
January 1, | ||||||||||||||||||||||||||||
November 5 | 2007 | |||||||||||||||||||||||||||
January 1 | through | through | ||||||||||||||||||||||||||
through | December | September | ||||||||||||||||||||||||||
November 5, | 31, | 30, | ||||||||||||||||||||||||||
2002 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||||||||||||||||||||||
(In Thousands) | ||||||||||||||||||||||||||||
Pre-tax income before minority interest and equity in earnings of partnership | $ | 2,685 | $ | 2,310 | $ | 9,180 | $ | 11,414 | $ | 12,289 | $ | 13,696 | $ | 10,029 | ||||||||||||||
Distributions from partnership | — | 891 | 3,564 | 1,980 | 1,812 | 9,285 | 9,943 | |||||||||||||||||||||
Fixed Charges | 3,435 | 439 | 2,563 | 4,773 | 9,477 | 17,974 | 15,417 | |||||||||||||||||||||
Amortization of Capitalized Interest | — | — | — | — | 2 | 11 | 24 | |||||||||||||||||||||
less | ||||||||||||||||||||||||||||
Capitalized Interest | — | — | — | — | (237 | ) | (1,546 | ) | (2,171 | ) | ||||||||||||||||||
Earnings | $ | 6,120 | $ | 3,640 | $ | 15,307 | $ | 18,167 | $ | 23,343 | $ | 39,420 | $ | 33,242 | ||||||||||||||
Fixed Charges | ||||||||||||||||||||||||||||
Interest Expense (includes any debt amortization) | $ | 3,283 | $ | 345 | $ | 2,001 | $ | 3,326 | $ | 6,909 | $ | 13,626 | $ | 9,956 | ||||||||||||||
Capitalized Interest | — | — | — | — | 237 | 1,546 | 2,171 | |||||||||||||||||||||
Estimated interest element of rentals1 | 152 | 94 | 562 | 1,447 | 2,331 | 2,802 | 3,290 | |||||||||||||||||||||
Total Fixed Charges | $ | 3,435 | $ | 439 | $ | 2,563 | $ | 4,773 | $ | 9,477 | $ | 17,974 | $ | 15,417 | ||||||||||||||
Ratio of Earnings to Fixed Charges | 1.78 | 8.29 | 5.97 | 3.81 | 2.46 | 2.19 | 2.16 | |||||||||||||||||||||
1 | Calculated as one-third of rentals. Considered a reasonable approximation of interest factor. |