COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
| | Six Months ended June 30, 2009 | Six Months ended June 30, 2008 | Year Ended December 31, | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||
| | (in thousands) | ||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 90,252 | $ | (14,884 | ) | $ | (188,157 | ) | $ | (2,705 | ) | $ | 72,850 | $ | 70,866 | $ | 54,167 | ||||||
Plus: Fixed charges | 136,605 | 138,325 | 278,465 | 75,331 | 53,037 | 54,236 | 52,036 | ||||||||||||||||
Plus: Amortization of capitalized interest(a) | — | — | — | — | — | — | — | ||||||||||||||||
Less: Interest capitalized(a) | — | — | — | — | — | — | — | ||||||||||||||||
Less: Preference security dividends | (15,484 | ) | (6,482 | ) | (17,940 | ) | (960 | ) | — | — | — | ||||||||||||
Total earnings | $ | 211,373 | $ | 116,959 | $ | 72,368 | $ | 71,666 | $ | 125,887 | $ | 125,102 | $ | 106,203 | |||||||||
Fixed charges: | |||||||||||||||||||||||
Total interest expense, including amortization of debt discount and issuance costs(b) | $ | 104,770 | $ | 112,953 | $ | 224,334 | $ | 50,016 | $ | 29,845 | $ | 30,427 | $ | 28,147 | |||||||||
Interest capitalized(a) | — | — | — | — | — | — | — | ||||||||||||||||
Estimated interest within rent expense(c) | 16,351 | 18,890 | 36,191 | 24,355 | 23,192 | 23,809 | 23,889 | ||||||||||||||||
Preference security dividends | 15,484 | 6,482 | 17,940 | 960 | — | — | — | ||||||||||||||||
Total fixed charges | $ | 136,605 | $ | 138,325 | $ | 278,465 | $ | 75,331 | $ | 53,037 | $ | 54,236 | $ | 52,036 | |||||||||
Ratio of earnings to fixed charges(d) | 1.55 | 0.85 | 0.26 | 0.95 | 2.37 | 2.31 | 2.04 | ||||||||||||||||
