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Exhibit 12.1
COMPUTATION OF RATIO OF
EARNINGS TO COMBINED FIXED CHARGES
(IN THOUSANDS)
Predecessor
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1 Month | 11 Months Period Jan 1 -
Ended | Ended October 29,
Jan 31, 2003 | Dec 31, 2003 2001 2002 2003 2004
Adjusted pre-tax income from operations (a) (13,011) | (5,751) 21.488 27,432 32,064 54,472
|
Fixed Charges: |
Interest expense 63 | 1,386 2,328 4,299 2,854 1,588
Net amortization of indebtedness -- | -- -- -- -- --
Rentals (b) 418 | 4,603 5,075 5,109 4,547 3,560
------- | ------- ------ ------ ------ -------
Total Fixed charges (c) 481 | 5,989 7,403 9,408 7,401 5,148
------- | ------- ------ ------ ------ -------
Earning before income taxes and fixed charges (12,530) | 238 28,891 36,840 39,465 59,620
------- | ------- ------ ------ ------ -------
|
Ratio of Earnings to Fixed Charges (d) - x | - x 3.9 x 3.9 x 5.3 x 11.6 x
|
Deficiency (e) 13,011 | 5,751 -- -- -- --
Predecessor | Successor
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Nine Months | Period Oct 30 - Nine Months Proforma Proforma
Ended | December 31 Ended Year Ended Nine Months Ended
Sept 30, 2004 | 2004 Sept 30, 2005 Dec 31, 2004 Sept 30, 2005
Adjusted pre-tax income from operations (a) 43,375 | 15,194 15,876 12,075 29,288
|
Fixed Charges: |
Interest expense 1,937 | 9,978 38,641 55,171 35,932
Net amortization of indebtedness -- | 730 8,677 4,205 6,756
Rentals (b) 3,051 | 508 3,051 4,068 3,051
------- | ------- ------- ------- -------
Total Fixed charges (c) 4,988 | 11,216 50,369 63,444 45,739
------- | ------- ------- ------- -------
Earning before income taxes and fixed charges 48,363 | 26,410 66,245 75,519 75,027
------- | ------- ------- ------- -------
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Ratio of Earnings to Fixed Charges (d) 9.7 x | 2.4 x 1.3 x 1.2 x 1.6 x
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Deficiency (e) -- | -- -- -- --
(a) For this purpose. earnings include pre-tax income from continuing
operations before equity earnings (losses) in partially-owned affiliates
and minority interest.
(b) The Company uses one-third of rental expense as an estimation of the
interest factor on its rental expense.
(c) Fixed charges include interest, whether expensed or capitalized. and an
estimate of interest within rental expense.
(d) The ratio of earnings to fixed charges is computed by dividing earnings by
fixed charges.
(e) The deficiencies for the periods where earnings were inadequate to cover
fixed changes are noted in the schedule above.