EXHIBIT 12.1
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED DIVIDENDS
(In thousands except ratios)
YEAR ENDED DECEMBER 31,
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1995 1996 1997 1998 1999 THREE
MONTHS ENDED
MARCH 31, 2000
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Income before income taxes 1,594 3,831 3,580 27,871 102,938 34,530
Dividends and other income received from
nonconsolidated affiliates -- -- -- -- -- --
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Total earnings 1,594 3,831 3,580 27,871 102,938 34,530
Interest expense and amortization of loan fees 867 1,096 1,290 4,855 15,184 4,533
Interest portion of rentals 98 85 171 599 3,863 874
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Total fixed charges 965 1,181 1,461 5,454 19,047 5,407
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Preferred stock dividends -- -- -- -- 260 232
Tax effect of preferred dividends -- -- -- -- 236 178
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Required pretax earnings -- -- -- -- 496 410
Total fixed charges and preferred dividends 965 1,181 1,461 5,454 19,543 5,817
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Ratio of earnings to fixed charges
Total earnings available for fixed charges 2,559 5,012 5,041 33,325 121,985 39,937
Total fixed charges 965 1,181 1,461 5,454 19,047 5,407
Ratio 2.7 4.2 3.4 6.1 6.4 7.4
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Ratio of earnings to combined fixed charges and
preferred dividends
Total earnings available for fixed charges 2,559 5,012 5,041 33,325 121,985 39,937
Total fixed charges and preferred dividends 965 1,181 1,461 5,454 19,543 5,817
Ratio 2.7 4.2 3.4 6.1 6.2 6.9
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