EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
YEAR ENDED DECEMBER 31,
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1998 1999 2000 2001 2002
(IN THOUSANDS) ------------- ----------- ------------- ------------- ----------
(Loss) income before income taxes and minority
interest ............................................. $ (26,264) $ 3,339 $ (45,818) $ (43,137) $ 13,277
Plus fixed charges:
Interest expense, net ................................ 68,008 87,474 101,693 98,440 81,784
Capitalized interest ................................. 2,639 3,727 4,182 2,570 1,525
Portion of rent expense representative of
interest expense ................................... 3,542 5,201 6,620 7,388 7,635
Plus (income) loss from equity investees .............. (274) (231) (63) 246 --
Plus amortization of capitalized interest ............. 522 672 935 1,236 1,252
Less capitalized interest ............................. (2,639) (3,727) (4,182) (2,570) (1,525)
--------- -------- --------- --------- --------
Adjusted earnings ..................................... 45,534 96,455 63,367 64,173 103,948
Fixed charges ......................................... $ 74,189 $ 96,402 $ 112,495 $ 108,398 $ 90,944
Ratio of earnings to fixed charges .................... -- 1.0 -- -- 1.1
Deficiency of earnings to cover fixed charges ......... $ 28,655 $ 49,128 $ 44,225
THREE MONTHS ENDED
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MARCH 31, 2002 MARCH 30, 2003
(IN THOUSANDS) ---------------- ---------------
Income (loss) before income taxes and minority interest ............. $ 3,739 $ (2,557)
Plus fixed charges:
Interest expense, net .............................................. 21,973 30,921
Capitalized interest ............................................... 728 533
Portion of rent expense representative of interest expense ......... 1,878 2,025
Plus (income) loss from equity investees ............................ -- --
Plus amortization of capitalized interest ........................... 303 318
Less capitalized interest ........................................... (728) (533)
------- --------
Adjusted earnings ................................................... 27,893 30,707
Fixed charges ....................................................... $24,579 $ 33,479
Ratio of earnings to fixed charges .................................. 1.1 --
Deficiency of earnings to cover fixed charges ....................... $ 2,772