Exhibit 12.1
Ex-12.1 Computation Of Ratio Of Earnings To Fixed Charges
Year Ended December 31, | Period January 1, 2008 to October 28, 2008 | Period October 29, 2008 to December 31, 2008 | Year Ended December 31, 2009 | Six Months Ended June 30, 2009 | Six Months Ended June 30, 2010 | |||||||||||||||||||||||||||
2005 | 2006 | 2007 | ||||||||||||||||||||||||||||||
(Predecessor) | (Predecessor) | (Predecessor) | (Predecessor) | (Successor) | (Successor) | (Successor) | (Successor) | |||||||||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||||
Income (loss) before taxes | $ | 109,160 | $ | 117,560 | $ | 138,037 | $ | 90,645 | $ | (1,235 | ) | $ | (12,258 | ) | $ | 9,520 | $ | 3,057 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||||||
Interest expense | 22,972 | 31,205 | 22,447 | 31,838 | 26,167 | 129,200 | 64,569 | 65,235 | ||||||||||||||||||||||||
Estimate of interest implicit in rental expense | 49,391 | 48,373 | 50,310 | 45,456 | 9,136 | 36,933 | 26,459 | 18,112 | ||||||||||||||||||||||||
Total fixed charges | 72,363 | 79,578 | 72,757 | 77,294 | 35,303 | 166,133 | 91,028 | 83,347 | ||||||||||||||||||||||||
Earnings before fixed charges and income taxes | $ | 181,523 | $ | 197,138 | $ | 210,794 | $ | 167,939 | $ | 34,068 | $ | 153,875 | $ | 100,548 | $ | 86,404 | ||||||||||||||||
Ratio of earnings to fixed charges | 2.5 | 2.5 | 2.9 | 2.2 | .97 | 0.9 | 1.1 | 1.0 | ||||||||||||||||||||||||
Earnings deficiency to cover fixed charges | $ | — | $ | — | $ | — | $ | — | $ | (1,235 | ) | $ | (12,258 | ) | $ | — | $ | — |