S-4: Registration of securities issued in business combination transactions
Published on December 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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December 31, |
Nine Months ended September 30, |
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1999 |
2000 |
2001 |
2002 |
2003 |
2003 |
2004 |
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| RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||
| Net income (loss) from continuing operations | $ | 18,966 | $ | (43,250 | ) | $ | (15,588 | ) | $ | (3,744 | ) | $ | 23,341 | $ | 16,475 | $ | 4,772 | |||||
| Interest expense | 42,947 | 42,400 | 33,204 | 27,381 | 23,388 | 17,964 | 36,784 | |||||||||||||||
| Net income (loss) before fixed charges | 61,913 | (850 | ) | 17,616 | 23,637 | 46,729 | 34,439 | 41,556 | ||||||||||||||
| Interest expense | $ | 42,947 | $ | 42,400 | $ | 33,204 | $ | 27,381 | $ | 23,388 | $ | 17,964 | $ | 36,784 | ||||||||
| Total fixed charges | $ | 42,947 | $ | 42,400 | $ | 33,204 | $ | 27,381 | $ | 23,388 | $ | 17,964 | $ | 36,784 | ||||||||
| Earnings/Fixed charge coverage ratio | 1.4x | * | * | * | 2.0x | 1.9x | 1.1x | |||||||||||||||
- *
- Our earnings were insufficient to cover fixed charges by $43,250, $15,588 and $3,744 in 2000, 2001 and 2002 respectively. In addition, our ratio of earnings to fixed charges has been revised to reflect the impact of the implementation of the Statement of Accounting Standard No. 144, "Accounting for the Impairment and Disposal of Long-Lived Assets."
RATIO OF EARNINGS TO FIXED CHARGES