Exhibit 12.1
STATEMENT REGARDING COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
RATIO OF EARNINGS TO FIXED CHARGES
Successor | Predecessor | ||||||||||||||||||||||||||||
Nine Months | October 31, | January 1, | |||||||||||||||||||||||||||
Ended | 2004 through | 2004 through | |||||||||||||||||||||||||||
September 30, | Year Ended December 31, | December 31, | October 30, | ||||||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2004 | |||||||||||||||||||||||
($ in millions) | |||||||||||||||||||||||||||||
Income before income taxes | 246.2 | 301.3 | 167.6 | 137.3 | 52.6 | 14.5 | 54.2 | ||||||||||||||||||||||
Equity investee losses (earnings) | 0.8 | — | — | — | 0.6 | (0.2 | ) | 1.0 | |||||||||||||||||||||
Fixed charges, excluding capitalized amounts: | |||||||||||||||||||||||||||||
Interest expense, including amortization of financing costs | 25.8 | 35.9 | 43.7 | 51.5 | 60.5 | 10.0 | 0.8 | ||||||||||||||||||||||
Interest portion of rent expense (1) | 4.4 | 5.8 | 5.5 | 4.3 | 2.7 | 0.5 | 3.6 | ||||||||||||||||||||||
Earnings as defined | 277.2 | 343.0 | 216.8 | 193.1 | 116.4 | 24.8 | 59.6 | ||||||||||||||||||||||
Fixed charges: | |||||||||||||||||||||||||||||
Interest expense, including amortization of financing costs | 25.8 | 35.9 | 43.7 | 51.5 | 60.5 | 10.0 | 0.8 | ||||||||||||||||||||||
Interest portion of rent expense (1) | 4.4 | 5.8 | 5.5 | 4.3 | 2.7 | 0.5 | 3.6 | ||||||||||||||||||||||
Capitalized interest | 0.8 | 0.9 | 0.8 | 0.4 | — | — | — | ||||||||||||||||||||||
Fixed charges | 31.0 | 42.6 | 50.0 | 56.2 | 63.2 | 10.5 | 4.4 | ||||||||||||||||||||||
Ratio of Earnings to Fixed Charges | 8.9 | x | 8.1 | x | 4.3 | x | 3.4 | x | 1.8 | x | 2.4 | x | 13.5 | x | |||||||||||||||
(1) | One-third of rent expense is deemed to be a reasonable approximation of the interest portion of rent expense. |