Form: POS AM

Post-effective amendment to a registration statement that is not immediately effective upon filing

August 31, 2004

Documents

 

EXHIBIT 12.1

Computation of Ratio of Earnings to Fixed Charges
(Amounts in 000s, except ratios)

                                                     
        Year Ended December 31,   Six
       
  Months Ended
        1999
   2000
   2001
   2002
   2003
   June 30, 2004
Earnings  
 
                                                
   
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees
    102,938       199,051       156,966       (193,844 )     (53,069 )     (22,938 )
   
   
 		      
 		      
 		      
 		      
 		      
 		  
Fixed Charges  
 
                                                
   
Interest expense and amortization of debt issuance costs on all indebtedness (b)
    15,184       25,708       36,072       35,866       31,822       12,594  
   
Appropriate portion (1/3) of rent expense relating to interest
    3,863       5,346       7,953       10,329       15,990       8,675  
   
   
 		      
 		      
 		      
 		      
 		      
 		  
   
Fixed Charges
    19,047       31,054       44,025       46,195       47,812       21,269  
   
   
 		      
 		      
 		      
 		      
 		      
 		  
   
Pre-tax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees plus Fixed Charges
    121,985       230,105       200,991       (147,649 )     (5,257 )     (1,669 )
   
   
 		      
 		      
 		      
 		      
 		      
 		  
   
Ratio of Earnings to Fixed Charges
    6.4       7.4       4.6       (a )     (a )     (a )

(a) Due to the losses for the years ended December 31, 2002 and 2003 and the six months ended June 30, 2004, the ratio of earnings to fixed charges for such periods was less than 1:1. In order to achieve a coverage ratio of 1:1, we needed additional earnings of $193.8 million for the year ended December 31, 2002, $53.1 million for the year ended December 31, 2003, and $22.9 million for the six months ended June 30, 2004.

(b) No interest was capitalized for any period.