Exhibit 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
| Year-Ended December, 31, | Nine Months Ended | |||||||||||||||||||||||
(unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | September 30, 2012 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income from continuing operations before income taxes | $78,951 | ($68,356 | ) | ($342,300 | ) | $123,372 | $140,499 | $63,728 | ||||||||||||||||
Fixed charges | 59,608 | 50,725 | 37,403 | 33,525 | 33,216 | 50,308 | ||||||||||||||||||
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Earnings | $138,559 | ($17,631 | ) | ($304,897 | ) | $156,897 | $173,715 | $114,036 | ||||||||||||||||
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Fixed charges: | ||||||||||||||||||||||||
Rental expense | $5,722 | $4,254 | $4,454 | $6,759 | $5,800 | $4,798 | ||||||||||||||||||
Interest expense | 53,886 | 46,471 | 32,949 | 26,766 | 27,416 | 45,510 | ||||||||||||||||||
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Fixed charges | $59,608 | $50,725 | $37,403 | $33,525 | $33,216 | $50,308 | ||||||||||||||||||
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Ratio of earnings to fixed charges | 2.3x | (a) | (a) | 4.7x | 5.2x | 2.3x | ||||||||||||||||||
| (a) | Earnings were inadequate to cover fixed charges for the years ended December 31, 2010 and December 31, 2009 by $33.1 million and $266.3 million, respectively. |