Exhibit 12.1
| | Predecessor | Successor | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Fiscal Year Ended December 31, | Period from January 1, 2004 through August 20, 2004 | | |||||||||
| | Period from August 21, 2004 through December 31, 2004 | |||||||||||
| | 2000 | 2001 | 2002 | 2003 | ||||||||
| Net income (loss) before income taxes | (107,690 | ) | 74,704 | (69,996 | ) | 114,933 | 48,257 | 37,107 | ||||
Fixed Charges: | ||||||||||||
Interest expense incurred | 29,419 | 23,290 | 24,989 | 22,890 | 12,358 | 30,434 | ||||||
| Interest portion of lease expense (1/3) | 19,342 | 21,616 | 23,459 | 21,883 | 13,878 | 8,458 | ||||||
| Total fixed charges | 48,761 | 44,906 | 48,448 | 44,773 | 26,236 | 38,892 | ||||||
Net income (loss) before income taxes and fixed charges | (58,929 | ) | 119,610 | (21,548 | ) | 159,706 | 74,493 | 75,999 | ||||
Ratio of earnings (pre-tax) to fixed charges | — | 2.7 | — | 3.6 | 2.8 | 2.0 | ||||||
- =(1)
- The ratio of earnings to fixed charges was calculated by dividing (i) net income (loss) before income taxes and fixed charges by (ii) fixed charges which consist of interest expense incurred, including amortization of debt discount and premium on all indebtedness, and one-third of rental expense, which approximates the interest portion of our rental expense. For the years ended December 31, 2000 and 2002, our earnings were not sufficient to cover our fixed charges by $58.9 million and $20.0 million, respectively.