Exhibit 12.1
Earnings to Fixed Charge Calculation
2003 | 2004 | 2005 | 2006 | Period from January 1 to November 9, 2007 | Period from November 10 to December 31, 2007 | Nine Months Ended September 30, 2008 | |||||||||||||||||||||
(Dollars in millions, except ratios) | |||||||||||||||||||||||||||
Fixed charges | |||||||||||||||||||||||||||
Interest expense(1) | $ | 4.6 | $ | 4.4 | $ | 5.5 | $ | 6.0 | $ | 5.3 | $ | 50.3 | $ | 223.6 | |||||||||||||
Capitalized interest | 0.2 | 0.4 | 0.5 | 0.6 | 0.4 | 0.1 | 0.4 | ||||||||||||||||||||
Interest within rental expense | 17.7 | 17.7 | 17.4 | 16.9 | 15.0 | 2.3 | 12.1 | ||||||||||||||||||||
Total fixed charges | $ | 22.5 | $ | 22.5 | $ | 23.4 | $ | 23.5 | $ | 20.7 | $ | 52.7 | $ | 236.1 | |||||||||||||
Earnings | |||||||||||||||||||||||||||
Earnings (loss) before income taxes | $ | 150.2 | $ | 41.2 | $ | 173.8 | $ | 259.3 | $ | 168.3 | $ | (19.2 | ) | $ | (89.2 | ) | |||||||||||
Less: | |||||||||||||||||||||||||||
Capitalized interest | 0.2 | 0.4 | 0.5 | 0.6 | 0.4 | 0.1 | 0.4 | ||||||||||||||||||||
Plus: | |||||||||||||||||||||||||||
Amortization of capitalized interest | 0.4 | 0.3 | 0.3 | 0.4 | 0.4 | 0.1 | 0.3 | ||||||||||||||||||||
Fixed charges | 22.5 | 22.5 | 23.4 | 23.5 | 20.7 | 52.7 | 236.1 | ||||||||||||||||||||
Total “earnings” as defined | $ | 172.9 | $ | 63.6 | $ | 197.0 | $ | 282.6 | $ | 189.0 | $ | 33.5 | $ | 146.8 | |||||||||||||
Ratio of earnings to fixed charges | 7.7 | 2.8 | 8.4 | 12.0 | 9.1 | — | — | ||||||||||||||||||||
Deficiency | — | — | — | — | — | (19.2 | ) | (89.3 | ) |
(1) | Includes amortization of deferred financing fees and debt discounts. |