EXHIBIT 12.1
| YEAR ENDED | |||||||||||||||
| (in thousands of U.S. dollars) | Dec. 31, 2004 | Dec. 31, 2003 | Dec. 31, 2002 | Dec. 31, 2001 | Dec. 31, 2000 | ||||||||||
Fixed charges: | |||||||||||||||
Interest expense | $ | 11,362 | $ | 13,134 | $ | 13,347 | $ | 17,711 | $ | 22,924 | |||||
Portion of rent expense representative of interest | 2,600 | 2,467 | 1,867 | 1,567 | 1,567 | ||||||||||
Total fixed charges | $ | 13,962 | $ | 15,601 | $ | 15,214 | $ | 19,278 | $ | 24,491 | |||||
Earnings: | |||||||||||||||
Income from continuing operations before tax | $ | 159,067 | $ | 162,833 | $ | 149,197 | $ | 187,689 | $ | 202,117 | |||||
Fixed charges per above | 13,962 | 15,601 | 15,214 | 19,278 | 24,491 | ||||||||||
Total earnings | $ | 173,029 | $ | 178,434 | $ | 164,411 | $ | 206,967 | $ | 226,608 | |||||
Ratio of earnings to fixed charges | 12.23 | 11.44 | 10.81 | 10.74 | 9.25 | ||||||||||
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