S-4: Registration of securities issued in business combination transactions
Published on June 21, 2004
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Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of earnings to fixed charges on a reported basis for the periods indicated. Earnings consists of income from continuing operations plus fixed charges. Fixed charges consist of interest expense.
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Year Ended December 31, |
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Three Months Ended March 31, 2004 |
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1999 |
2000 |
2001 |
2002 |
2003 |
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| RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||
| Income (loss) from continuing operations | $ | 18,966 | $ | (43,250 | ) | $ | (15,588 | ) | $ | (3,744 | ) | $ | 23,341 | $ | (9,945 | ) | ||||
| Interest expense | 42,947 | 42,400 | 33,204 | 27,381 | 23,388 | 24,253 | ||||||||||||||
| Earnings | $ | 61,913 | $ | (850 | ) | $ | 17,616 | $ | 23,637 | $ | 46,729 | $ | 14,308 | |||||||
| Interest expense | $ | 42,947 | $ | 42,400 | $ | 33,204 | $ | 27,381 | $ | 23,388 | $ | 24,253 | ||||||||
| Total fixed charges | $ | 42,947 | $ | 42,400 | $ | 33,204 | $ | 27,381 | $ | 23,388 | $ | 24,253 | ||||||||
| Ratio of earnings to fixed charges | 1.4x | * | * | * | 2.0x | * | ||||||||||||||
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- Our earnings were insufficient to cover fixed charges by $43,250, $15,588, $3,744 and $9,945 in 2000, 2001, 2002 and for the three-months ending March 31, 2004 respectively.
The following table gives effect to issuance of the notes, the application of the proceeds therefrom as described in "Use of Proceeds" and the effectiveness of our new senior credit facility, as if these transactions had occurred as of January 1, 2003 and January 1, 2004, respectively.
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Year Ended December 31, 2003 |
Three Months Ended March 31, 2004 |
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| RATIO OF EARNINGS TO FIXED CHARGESPRO FORMA | ||||||||
| Income (loss) from continuing operations | $ | 2,789 | $ | (13,095 | ) | |||
| Interest expense | 43,940 | 27,403 | ||||||
| Earnings | $ | 46,729 | $ | 14,308 | ||||
| Interest expense | $ | 43,940 | $ | 27,403 | ||||
| Total fixed charges | $ | 43,940 | $ | 27,403 | ||||
| Ratio of earnings to fixed charges | 1.1x | * | ||||||
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- Our pro forma earnings for the three-months ending March 31, 2004 were insufficient to cover fixed charges by $13,095.
RATIO OF EARNINGS TO FIXED CHARGES