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COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES (UNAUDITED)
| 2000 | 2001 | 2002 | 2003 | 2004 | Pro Forma 2004 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earnings | |||||||||||||||
Income (loss) before income taxes | 7,791 | (46,990 | ) | (5,102 | ) | (9,655 | ) | 41,474 | 53,717 | ||||||
Equity in earnings of affiliates | (455 | ) | (250 | ) | (182 | ) | (485 | ) | (646 | ) | (646 | ) | |||
Net interest expense (excluding capitalized interest) | 36,230 | 40,199 | 42,017 | 49,877 | 36,845 | 47,173 | |||||||||
Portion of rent expense under long-term operating leases representative of an interest factor | 1,014 | 783 | 806 | 950 | 994 | 3,205 | |||||||||
Total earnings (loss) | 44,580 | (6,258 | ) | 37,539 | 40,687 | 78,667 | 103,449 | ||||||||
Fixed charges | |||||||||||||||
Interest expense (including capitalized interest) | 37,498 | 40,899 | 42,467 | 50,288 | 37,696 | 48,024 | |||||||||
Portion of rent expense under long-term operating leases representative of an interest factor | 1,014 | 783 | 806 | 950 | 994 | 3,205 | |||||||||
Total fixed charges | 38,512 | 41,682 | 43,273 | 51,238 | 38,690 | 51,229 | |||||||||
Ratio of earnings to fixed charges | 1.2 | x | (1 | ) | (2 | ) | (3 | ) | 2.0 | x | 2.0 | x |
- (1)
- Earnings did not cover charges by $47.9 million.
- (2)
- Earnings did not cover charges by $5.7 million.
- (3)
- Earnings did not cover charges by $10.6 million.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (UNAUDITED)