Exhibit 12
Ratio of Earnings to Fixed Charges
(In Thousands)
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| Three Months Ended |
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| March 31, |
| Year Ended December 31, |
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| 2007 |
| 2006 |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
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Ratio of Earnings to Fixed Charges |
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Fixed Charges : |
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Interest on debt and capitalized leases |
| $ | 32,175 |
| $ | 4,206 |
| $ | 51,728 |
| $ | 19,487 |
| $ | 22,088 |
| $ | 35,824 |
| $ | 46,944 |
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Amortization of debt discount and expense |
| 1,295 |
| 291 |
| 2,087 |
| 1,397 |
| 2,579 |
| 3,098 |
| 3,417 |
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Interest element of rentals(a) |
| 2,940 |
| 1,963 |
| 8,646 |
| 7,623 |
| 6,369 |
| 6,171 |
| 6,798 |
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Total Fixed Charges |
| $ | 36,410 |
| $ | 6,460 |
| $ | 62,461 |
| $ | 28,507 |
| $ | 31,036 |
| $ | 45,093 |
| $ | 57,159 |
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Earnings : |
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Consolidated net (loss) income |
| $ | (34,571 | ) | $ | 33,681 |
| $ | 48,539 |
| $ | 95,503 |
| $ | 105,892 |
| $ | 12,495 |
| $ | 31,195 |
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Addback: |
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Loss from discontinued operations, net of tax (d) |
| 8,061 |
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| 3,263 |
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Consolidated (benefit from) provision for income taxes |
| (10,711 | ) | 20,757 |
| 31,497 |
| 46,855 |
| 60,868 |
| 5,245 |
| 17,546 |
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Amortization of capitalized interest |
| 361 |
| 359 |
| 1,449 |
| 1,414 |
| 1,329 |
| 1,309 |
| 1,293 |
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Interest capitalized |
| (1,381 | ) | (148 | ) | (2,167 | ) | (357 | ) | (889 | ) | (726 | ) | (622 | ) | |||||||
Fixed charges less interest capitalized |
| 36,410 |
| 6,460 |
| 62,461 |
| 28,507 |
| 31,036 |
| 45,093 |
| 57,159 |
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Total Earnings |
| $ | (1,831 | ) | $ | 61,109 |
| $ | 145,042 | (c) | $ | 171,922 |
| $ | 198,236 |
| $ | 63,416 | (b) | $ | 106,571 |
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Ratio of Earnings to Fixed Charges |
| — | (e) | 9.5 |
| 2.3 |
| 6.0 |
| 6.4 |
| 1.4 |
| 1.9 |
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Rent/Lease Expense |
| 8,908 |
| 5,948 |
| 26,200 |
| 23,100 |
| 19,300 |
| 18,700 |
| 20,600 |
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(a) We estimated our interest factor for rentals to be 33.3 percent of our actual rental costs.
(b) 2003 earnings excluded addback for costs related to the early retirement of debt totaling $13.8 million.
(c) 2006 earnings excluded addbacks for costs related to loss on foreign exchange forward purchase contracts totaling $20.8 million, costs related to the early retirement of debt and write off of bridge financing fees totaling $5.3 million.
(d) Net of tax of $2,228 for the three months ended March 31, 2007 and $1,841 for the year ended December 31, 2006.
(e) For the quarter ended March 31, 2007, our earnings were insufficient to cover fixed charges by $38.2 million.