Exhibit 12.1
Ratio of Earnings to Fixed Charges
For the year ended December 31, | For the three months ended March 31, | |||||||||||||||||||||||||||
2010 | 2009 | 2008 | 2007 | 2006 | 2011 | 2010 | ||||||||||||||||||||||
(Loss)/income from continuing operations | $ | (6,995 | ) | $ | (143,285 | ) | $ | 17,052 | $ | (9,642 | ) | $ | 18,002 | $ | 2,771 | $ | 172 | |||||||||||
Total fixed charges | 41,762 | 35,531 | 45,099 | 39,181 | 34,575 | 8,906 | 10,325 | |||||||||||||||||||||
$ | 34,767 | $ | (107,754 | ) | $ | 62,151 | $ | 29,539 | $ | 52,577 | $ | 11,677 | $ | 10,497 | ||||||||||||||
Fixed charges | ||||||||||||||||||||||||||||
Operating lease expense | $ | 16,777 | $ | 21,589 | $ | 28,658 | $ | 23,516 | $ | 10,860 | $ | 3,286 | $ | 4,973 | ||||||||||||||
Factored at one-third | 5,592 | 7,196 | 9,553 | 7,839 | 3,620 | 1,095 | 1,658 | |||||||||||||||||||||
Interest expense | 36,170 | 28,335 | 35,546 | 31,342 | 30,955 | 7,811 | 8,667 | |||||||||||||||||||||
Total fixed charges | $ | 41,762 | $ | 35,531 | $ | 45,099 | $ | 39,181 | $ | 34,575 | $ | 8,906 | $ | 10,325 | ||||||||||||||
Ratio of earnings/(loss) to fixed charges | (1 | ) | (1 | ) | 1.4x | (1 | ) | 1.5x | 1.3x | 1.0x | ||||||||||||||||||
(Deficiency)/surplus in fixed charge coverage ratio | $ | (6,995 | ) | $ | (143,285 | ) | $ | 17,052 | $ | (9,642 | ) | $ | 18,002 | $ | 2,771 | $ | 172 |
(1) | In 2010, 2009 and 2007 earnings were insufficient to cover fixed charges by approximately $7.0 million, $143.3 million and $9.6 million, respectively. |