Exhibit 12.1
Statement RE: Ratio of Earnings to Fixed Charges
(in thousands, except for ratios)
| | Year Ended December 31, | Six Months Ended June 30, | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | 2002 | 2001 | 2000 | 1999 | 1998 | 2003 | 2002 | |||||||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||
| Loss before income taxes and cumulative effect of accounting change | $ | (107,468 | ) | $ | (250,008 | ) | $ | (97,403 | ) | $ | (38,448 | ) | $ | (18,356 | ) | $ | (32,988 | ) | $ | (49,873 | ) | |
| Add: Fixed charges | 18,293 | 16,297 | 13,726 | 2,470 | 662 | 9,506 | 9,015 | |||||||||||||||
| Less: Capitalized interest | — | (1,230 | ) | — | — | (203 | ) | — | — | |||||||||||||
| Earnings | $ | (89,175 | ) | $ | (234,941 | ) | $ | (83,677 | ) | $ | (35,978 | ) | $ | (17,897 | ) | $ | (23,482 | ) | $ | (40,858 | ) | |
Interest expense | $ | 16,613 | $ | 13,431 | $ | 12,138 | $ | 2,075 | $ | 270 | $ | 8,302 | $ | 8,219 | ||||||||
| Amortization of debt issuance costs | 1,268 | 1,366 | 1,254 | 131 | — | 1,028 | 633 | |||||||||||||||
| Capitalized interest | — | 1,230 | — | — | 203 | — | — | |||||||||||||||
| Estimated interest portion of rental expense | 412 | 270 | 334 | 264 | 189 | 176 | 163 | |||||||||||||||
| Fixed charges | $ | 18,293 | $ | 16,297 | $ | 13,726 | $ | 2,470 | $ | 662 | $ | 9,506 | $ | 9,015 | ||||||||
Deficiency of earnings available to cover fixed charges | $ | (107,468 | ) | $ | (251,238 | ) | $ | (97,403 | ) | $ | (38,448 | ) | $ | (18,559 | ) | $ | (32,988 | ) | $ | (49,873 | ) | |
Ratio of Earnings to Fixed Charges | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |||||||||||||||
For the purpose of calculating the ratio of earnings to fixed charges, earnings are defined as consolidated income (loss) from continuing operations before income taxes plus fixed charges. Fixed charges are the sum of interest of all indebtedness, estimated interest within rental expense and amortization of debt issuance costs.
