Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
| 1999 | 2000 | 2001 | 2002 | 2003 | 2003 as adjusted | Nine months ended September 30, 2004 | Nine months ended September 30, 2004 as adjusted | ||||||||||||||||||||||
Pre-tax income (loss) from continuing operations before income or loss from equity investees | $ | 78.1 | $ | (28.5 | ) | $ | (97.1 | ) | $ | (20.6 | ) | $ | (17.3 | ) | $ | (43.2 | ) | $ | 74.5 | $ | 135.6 | ||||||||
Fixed charges: | |||||||||||||||||||||||||||||
Interest expense | 24.2 | 29.7 | 19.3 | 14.6 | 18.8 | 57.1 | 16.0 | 44.4 | |||||||||||||||||||||
Rentals, primarily buildings - 33% | 6.7 | 6.6 | 6.4 | 5.8 | 5.5 | 10.0 | 4.0 | 7.4 | |||||||||||||||||||||
Preferred stock dividend requirements | 0.4 | — | — | — | — | — | 0.2 | 0.2 | |||||||||||||||||||||
Total fixed charges | $ | 31.3 | $ | 36.3 | $ | 25.7 | $ | 20.4 | $ | 24.3 | $ | 67.1 | $ | 20.2 | $ | 52.0 | |||||||||||||
Pre-tax income (loss) from continuing operations before income or loss from equity investees plus fixed charges | $ | 109.4 | $ | 7.8 | $ | (71.4 | ) | $ | (0.2 | ) | $ | 7.0 | $ | 23.9 | $ | 94.7 | $ | 187.6 | |||||||||||
Ratio of earnings to fixed charges | 3.50 | 4.68 | 3.61 | ||||||||||||||||||||||||||
Earnings deficiency | $ | 28.5 | $ | 97.1 | $ | 20.6 | $ | 17.3 | $ | 43.2 | |||||||||||||||||||