1
EXHIBIT 12.1
STATEMENT RE: COMPUTATION OF
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
Year Ended October 31, Year Ended December 31,
---------------------- --------------------------------
1995 1996 1997 1998 1999
--------- -------- -------- --------- ---------
EARNINGS
Net earnings (loss) 10,698 10,849 2,841 (11,890) (44,535)
ADD:
income tax expense (benefit) (2,390) 7,099 4,654 (191) (9,596)
fixed charges 21,467 21,475 48,590 74,973 114,175
-------- -------- -------- -------- --------
EARNINGS AS ADJUSTED 29,775 39,423 56,085 62,892 60,044
-------- -------- -------- -------- --------
FIXED CHARGES
Interest expense 15,783 15,441 38,230 60,008 89,619
Amortization of Debt issuance costs 84 1,761 1,984 3,491
Rents under leases representative of an
interest factor 5,684 5,950 8,599 12,981 21,065
-------- -------- -------- -------- --------
FIXED CHARGES AS ADJUSTED 21,467 21,475 48,590 74,973 114,175
-------- -------- -------- -------- --------
Preferred stock dividends 0 365 365 365 365
-------- -------- -------- -------- --------
TOTAL FIXED CHARGES COMBINED WITH PREFERRED DIVIDENDS(C) 21,467 21,840 48,955 75,338 114,540
-------- -------- -------- -------- --------
RATIO OF EARNINGS TO FIXED CHARGES 1.39 1.84 1.15 0.84 0.53
-------- -------- -------- -------- --------
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED DIVIDENDS 1.39 1.81 1.15 0.83 0.52
-------- -------- -------- -------- --------
COVERAGE DEFICIENCY (IF RATIO <1) N/A N/A N/A (12,446) (54,496)
SIX MONTHS ENDED
June 30
--------------------
2000 1999
-------- --------
EARNINGS
Net earnings (loss) (49,372) (15,684)
ADD:
income tax expense (benefit) (19,702) (1,766)
fixed charges 89,054 46,602
------- -------
EARNINGS AS ADJUSTED 19,980 29,152
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FIXED CHARGES
Interest expense 69,291 36,379
Amortization of Debt issuance costs 2,945 1,331
Rents under leases representative of an
interest factor 16,818 8,892
------- -------
FIXED CHARGES AS ADJUSTED 89,054 46,602
------- -------
Preferred stock dividends 183 274
------- -------
TOTAL FIXED CHARGES COMBINED WITH PREFERRED DIVIDENDS(C) 89,237 46,876
------- -------
RATIO OF EARNINGS TO FIXED CHARGES 0.22 0.63
------- -------
RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED DIVIDENDS 0.22 0.62
------- -------
COVERAGE DEFICIENCY (IF RATIO <1) (69,257) (17,724)