Exhibit 99.7
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Year Ended December 31, | ||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||
Fixed Charges | ||||||||||||||||||||
1 Interest expensed and capitalized | $ | 38,728 | $ | 29,880 | $ | 13,178 | $ | 15,102 | $ | 14,731 | ||||||||||
2 An estimate of the interest factor in rental expense | 4,367 | 5,418 | 4,607 | 4,165 | 2,859 | |||||||||||||||
Total Fixed Charges | $ | 43,095 | $ | 35,298 | $ | 17,785 | $ | 19,267 | $ | 17,590 | ||||||||||
Earnings | ||||||||||||||||||||
1 Pre-tax income (loss) from continuing operations before minority interests | $ | (368,470 | ) | $ | 200,113 | $ | 112,463 | $ | 58,239 | $ | 24,968 | |||||||||
2 Fixed charges | 43,095 | 35,298 | 17,785 | 19,267 | 17,590 | |||||||||||||||
3 Amortization of capitalized interest (less interest capitalized) | (572 | ) | (796 | ) | 102 | 207 | 316 | |||||||||||||
Total Earnings | $ | (325,947 | ) | $ | 234,615 | $ | 130,350 | $ | 77,713 | $ | 42,874 | |||||||||
Ratio of Earnings to Fixed Charges(1) | — | 6.6 | 7.3 | 4.0 | 2.4 | |||||||||||||||
(1) | Earnings were inadequate to cover fixed charges by $369.0 million in 2008. |
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