- Track your favorite companies
- Receive email alerts for new filings
- Personalized dashboard of news and more
- Access all data and search results
- S-4 Registration of securities issued in business combination transactions
- 3.7 EX-3.7
- 3.8 EX-3.8
- 3.9 EX-3.9
- 3.10 EX-3.10
- 3.11 EX-3.11
- 3.12 EX-3.12
- 3.13 EX-3.13
- 3.14 EX-3.14
- 3.15 EX-3.15
- 3.16 EX-3.16
- 3.17 EX-3.17
- 3.18 EX-3.18
- 3.19 EX-3.19
- 3.20 EX-3.20
- 3.21 EX-3.21
- 3.22 EX-3.22
- 3.23 EX-3.23
- 3.24 EX-3.24
- 3.25 EX-3.25
- 3.26 EX-3.26
- 3.27 EX-3.27
- 3.28 EX-3.28
- 3.29 EX-3.29
- 3.30 EX-3.30
- 3.31 EX-3.31
- 3.32 EX-3.32
- 3.33 EX-3.33
- 3.34 EX-3.34
- 3.35 EX-3.35
- 3.36 EX-3.36
- 3.37 EX-3.37
- 3.38 EX-3.38
- 3.39 EX-3.39
- 3.40 EX-3.40
- 3.41 EX-3.41
- 3.42 EX-3.42
- 3.43 EX-3.43
- 3.44 EX-3.44
- 3.45 EX-3.45
- 3.46 EX-3.46
- 3.47 EX-3.47
- 3.48 EX-3.48
- 3.49 EX-3.49
- 3.50 EX-3.50
- 3.51 EX-3.51
- 3.52 EX-3.52
- 4.2 EX-4.2
- 5.1 EX-5.1
- 12.1 EX-12.1
- 23.2 EX-23.2
- 24.1 EX-24.1
- 25.1 EX-25.1
- 99.1 EX-99.1
- 99.2 EX-99.2
- 99.3 EX-99.3
- CORRESP Corresp
Exhibit 12.1
Ratio of Earnings to Fixed Charges
|
| Year Ended December 31, |
| Nine Months Ended September 30, |
| |||||||||||||||||
(in thousands) |
| 2005 |
| 2006 |
| 2007 |
| 2008 |
| 2009 |
| 2009 |
| 2010 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Pretax income |
| $ | 24,135 |
| $ | 6,843 |
| $ | 30,993 |
| $ | 44,441 |
| $ | 59,994 |
| $ | 40,322 |
| $ | 32,992 |
|
Fixed charges |
| 47,255 |
| 49,079 |
| 48,027 |
| 44,346 |
| 43,806 |
| 32,243 |
| 34,881 |
| |||||||
Total earnings |
| $ | 71,390 |
| $ | 55,922 |
| $ | 79,020 |
| $ | 88,787 |
| $ | 103,800 |
| $ | 72,565 |
| $ | 67,873 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Interest expense |
| $ | 37,141 |
| $ | 38,643 |
| $ | 36,987 |
| $ | 32,549 |
| $ | 30,693 |
| $ | 22,727 |
| $ | 22,684 |
|
Interest within rent expense |
| 10,114 |
| 10,436 |
| 11,040 |
| 11,797 |
| 13,113 |
| 9,516 |
| 12,197 |
| |||||||
Total fixed charges (1) |
| $ | 47,255 |
| $ | 49,079 |
| $ | 48,027 |
| $ | 44,346 |
| $ | 43,806 |
| $ | 32,243 |
| $ | 34,881 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Rent Expense |
| 30,343 |
| 31,307 |
| 33,119 |
| 35,390 |
| 39,340 |
| 28,549 |
| 36,592 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
One-third of rent expense |
| 10,114 |
| 10,436 |
| 11,040 |
| 11,797 |
| 13,113 |
| 9,516 |
| 12,197 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Ratio of earnings to fixed charges |
| 1.5 | x | 1.1 | x | 1.6 | x | 2.0 | x | 2.4 | x | 2.3 | x | 1.9 | x |
(1) | The term “fixed charge” means the sum of the following: interest expensed and capitalized, amortized premiums, discounts and capitalized expenses related to indebtedness; and an estimate of interest within rental expense (equal to one-third of rental expense). Management believes this is a reasonable approximation of the interest factor. |