Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Amounts in Thousands)
Company | ||||||||||||||||||||||||||||
Year Ended December 31, 2006 | Year Ended December 31, 2007 | Year Ended December 31, 2008 | Year Ended December 31, 2009 | Year Ended December 31, 2010 | Six Months Ended June 30, 2011 | Six Months Ended June 30, 2010 | ||||||||||||||||||||||
Pretax (loss) income from operations (a) | $ | 40,407 | $ | 61,319 | $ | 109,595 | $ | 84,542 | $ | 28,498 | $ | 27,293 | $ | 5,254 | ||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | 25,461 | 22,174 | 17,953 | 15,817 | 16,196 | 7,997 | 8,241 | |||||||||||||||||||||
Financing costs amortization | 1,536 | 1,646 | 1,857 | 1,616 | 3,063 | 649 | 2,366 | |||||||||||||||||||||
Interest portion of rental expense (b) | 1,458 | 2,159 | 2,388 | 2,407 | 2,827 | 1,483 | 1,384 | |||||||||||||||||||||
Total fixed charges | 28,455 | 25,979 | 22,198 | 19,840 | 22,086 | 10,129 | 11,991 | |||||||||||||||||||||
Earnings (loss) before income taxes and fixed charges | $ | 68,862 | $ | 87,298 | $ | 131,793 | $ | 104,382 | $ | 50,584 | $ | 37,422 | $ | 17,245 | ||||||||||||||
Ratio of earnings to fixed charges (c) | 2.4 | 3.4 | 5.9 | 5.3 | 2.3 | 3.7 | 1.4 | |||||||||||||||||||||
Earnings Deficiency (d) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — |
(a) | For this purpose, earnings include pre-tax income from continuing operations before adjustments for minority interests in consolidated subsidiaries and income or loss from equity investees. |
(b) | The Company uses one-third of rental expense as an estimation of interest within rental expense. |
(c) | The ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. |
(d) | The deficiencies for the periods where earnings were inadequate to cover fixed charges are noted in the schedule above. |