Exhibit 12.1
COMPUTATION OF EARNINGS TO FIXED CHARGES
(dollars in thousands)
(dollars in thousands)
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||||||
2005 | 2004 | 2004 | 2003 | 2002 | 2001 | 2000 | ||||||||||||||||||||||
Fixed charges — interest expensed | $ | 1,466,953 | $ | 732,966 | $ | 1,079,291 | $ | 946,239 | $ | 1,110,449 | $ | 1,818,486 | $ | 2,358,998 | ||||||||||||||
Earnings | ||||||||||||||||||||||||||||
Income before assessments | $ | 290,724 | $ | 62,286 | $ | 88,757 | $ | 153,821 | $ | (68,432 | ) | $ | 159,390 | $ | 175,149 | |||||||||||||
Fixed charges | 1,466,953 | 732,966 | 1,079,291 | 946,239 | 1,110,449 | 1,818,486 | 2,358,998 | |||||||||||||||||||||
Total earnings | $ | 1,757,677 | $ | 795,252 | $ | 1,168,048 | $ | 1,100,060 | $ | 1,042,017 | $ | 1,977,876 | $ | 2,534,147 | ||||||||||||||
Ratio of earnings to fixed charges | 1.20 | 1.08 | 1.08 | 1.16 | 0.94 | 1.09 | 1.07 | |||||||||||||||||||||