Years ended December 31, | Six months ended June 30, | |||||||||||||||||||||||||||
1997 | 1998 | 1999 | 2000 | 2001 | 2001 | 2002 | ||||||||||||||||||||||
| Earnings: | ||||||||||||||||||||||||||||
| Pre-tax income (loss) | $ | 14,520 | $ | 21,611 | $ | 84,973 | $ | 131,888 | $ | (50,555 | ) | $ | (7,408 | ) | $ | (8,713 | ) | |||||||||||
| Add fixed charges | 8,094 | 26,751 | 69,531 | 63,903 | 53,467 | 26,501 | 26,827 | |||||||||||||||||||||
| Less capitalized interest | (425 | ) | (2,142 | ) | (1,359 | ) | (8,148 | ) | (481 | ) | (482 | ) | (256 | ) | ||||||||||||||
| Total earnings | $ | 22,189 | $ | 46,220 | $ | 153,145 | $ | 187,643 | $ | 2,431 | $ | 18,611 | $ | 17,858 | ||||||||||||||
| Fixed charges: | ||||||||||||||||||||||||||||
| Interest expense—inclusive of the amortization of debt issuance costs | $ | 7,302 | $ | 22,518 | $ | 64,573 | $ | 52,620 | $ | 49,853 | $ | 24,618 | $ | 24,952 | ||||||||||||||
| Capitalized interest | 425 | 2,142 | 1,359 | 8,148 | 481 | 482 | 256 | |||||||||||||||||||||
| Estimated interest portion in rent expense | 367 | 2,091 | 3,599 | 3,135 | 3,133 | 1,401 | 1,619 | |||||||||||||||||||||
| Total fixed charges | $ | 8,094 | $ | 26,751 | $ | 69,531 | $ | 63,903 | $ | 53,467 | $ | 26,501 | $ | 26,827 | ||||||||||||||
| Dividend on convertible preferred stock | $ | 1,520 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||
| Total fixed charges and preferred stock dividend | $ | 9,614 | $ | 26,751 | $ | 69,531 | $ | 63,903 | $ | 53,467 | $ | 26,501 | $ | 26,827 | ||||||||||||||
| Ratio of earnings to fixed charges (1) | 2.74 x | 1.73 x | 2.20 x | 2.94 x | .05 x | .70 x | .67 x | |||||||||||||||||||||
| Ratio of earnings to combined fixed charges and preferred dividend (2) | 2.31 x | 1.73 x | 2.20 x | 2.94 x | .05 x | .70 x | .67 x | |||||||||||||||||||||
| (1) | In computing the ratio of earnings to fixed charges: (i) earnings were calculated from income from continuing operations, before income taxes, and fixed charges, and excluding capitalized interest; and (ii) fixed charges were computed from interest expense, amortization of debt issuance costs, capitalized interest, and the estimated interest included in rental expense. Earnings were insufficient to cover fixed charges by $51 million for the year ended December 31, 2001 and $7.9 million and $9.0 million for the six months ended June 30, 2001 and 2002, respectively. |
| (2) | The ratio of earnings to combined fixed charges and preferred dividend is computed similar to (1) except for the preferred dividend paid in 1997. |
