Exhibit 12.1
Computation of Ratios of Earnings to Fixed Charges
YEARS ENDED DECEMBER 31, THREE MONTHS ENDED MARCH 31,
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1998 1999 2000 2000 2001
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INCOME AVAILABLE FOR FIXED CHARGES
Income before income taxes and minority interest
and extraordinary items $ 33,906 $ 77,301 $ 118,156 $ 32,298 $ 28,792
Fixed Charges 62,312 52,411 39,802 11,343 12,905
Less capitalized interest (1,086) (115) (717) (66) (123)
Less minority partner preferred equity return (2,360) (2,063) (1,527) (455) (162)
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Income available for fixed charges $ 92,772 $ 127,534 $ 155,714 $ 43,120 $ 41,412
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FIXED CHARGES
Interest expense $ 57,487 $ 48,594 $ 34,768 $ 10,107 $ 11,882
Minority partner preferred equity return 2,360 2,063 1,527 455 162
Capitalized interest 1,086 115 717 66 123
Interest portion of rent expense 1,379 1,639 2,790 715 738
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Total fixed charges $ 62,312 $ 52,411 $ 39,802 $ 11,343 $ 12,905
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Ratio of earnings to fixed charges 1.5 x 2.4 x 3.9 x 3.8 x 3.2 x
Pro Forma Pro Forma
Year Ended Three months
December 31, ended March 31,
2000 2001
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INCOME AVAILABLE FOR FIXED CHARGES
Income before income taxes and minority interest
and extraordinary items $ 93,735 $ 30,314
Fixed Charges 113,070 27,280
Less capitalized interest (717) (123)
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Income available for fixed charges $ 206,088 $ 57,471
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FIXED CHARGES
Interest expense $ 109,442 $ 26,391
Capitalized interest 717 123
Interest portion of rent expense 2,911 766
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Total fixed charges $ 113,070 $ 27,280
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Ratio of earnings to fixed charges 1.8 x 2.1 x