1
EXHIBIT 12.1
STATEMENT REGARDING COMPUTATION OF RATIOS
RATIO OF EARNINGS TO FIXED CHARGES
PREDECESSOR PREDECESSOR SUCCESSOR SUCCESSOR
----------- ----------- --------- ---------
NINE THREE
MONTHS MONTHS YEAR
ENDED ENDED ENDED
YEAR ENDED DECEMBER 31, SEPTEMBER 30, DECEMBER 31, DECEMBER 31,
1992 1993 1994 1995 1995 1996
---------------------------------------------------------------------------------
(dollars in thousands)
EARNINGS BEFORE INCOME TAXES $23,581 $28,804 $31,356 $16,963 $1,778 $(2,373)
FIXED CHARGES 1,101 1,773 2,597 3,707 5,926 27,627
------- ------- ------- ------- ------ -------
$24,682 $30,577 $33,953 $20,670 $7,704 $25,254
------- ------- ------- ------- ------ -------
DIVIDED BY:
FIXED CHARGES $ 1,101 $ 1,773 $ 2,597 $3,707 $5,926 $27,627
22.4x 17.2x 13.1x 5.6x 1.3x .9x
======= ======= ======= ====== ====== =======