Exhibit 12.1
Calculation of Ratios of Earnings to Fixed Charges
| Year Ended December 31, | ||||||||||||||||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES: | ||||||||||||||||||||
| Pre-tax (loss) income from continuing operations before adjustment for income from equity investees | (38,132 | ) | (248,767 | ) | (11,750 | ) | (12,390 | ) | (14,321 | ) | ||||||||||
| Fixed charges: | ||||||||||||||||||||
| Interest expense (a) | 101,144 | 83,025 | 26,570 | 21,795 | 22,114 | |||||||||||||||
| Interest portion of rent expense (b) | 8,845 | 4,351 | 2,956 | 2,504 | 1,849 | |||||||||||||||
| Total fixed charges | 109,989 | 87,376 | 29,526 | 24,299 | 23,963 | |||||||||||||||
| Total earnings (loss) | 71,857 | (161,391 | ) | 17,776 | 11,909 | 9,642 | ||||||||||||||
| Ratio of earnings to fixed charges | 0.7x | — | 0.6x | 0.5x | 0.4x | |||||||||||||||
| Ratio of coverage deficiency | (c | ) | (c | ) | (c | ) | (c | ) | (c | ) | ||||||||||
| (a) | Interest expense includes the write-off and amortization of deferred financing costs and the write-off and amortization of non-cash discounts associated with our debt issuances and stock dividends. | |
| (b) | Includes approximately one-fourth of the rent expense for each period presented which management believes is a reasonable approximation of the interest component of such rentals. | |
| (c) | Due to the loss from operations for the years ended December 31, 2008, 2007, 2006, 2005 and 2004, there were insufficient earnings of $38.1 million, $248.9 million, $11.8 million, $12.4 million and $14.3 million, respectively, to cover fixed charges. |