Attached files
Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
Years Ended December 31, | |||||||||||||||||
2005 | 2006 | 2007 | 2008 | 2009 | |||||||||||||
Income (loss) from continuing operations before income taxes |
$ | (4,469 | ) | $ | 41,531 | $ | 22,209 | $ | (133,076 | ) | $ | 16,035 | |||||
Fixed charges: |
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Interest expense |
5,010 | 5,028 | 5,012 | 1,537 | 4 | ||||||||||||
Interest relating to rental expense (1) |
4,079 | 5,790 | 6,339 | 5,314 | 2,438 | ||||||||||||
Total fixed charges |
9,089 | 10,818 | 11,351 | 6,851 | 2,442 | ||||||||||||
Earnings available for fixed charges |
$ | 4,620 | $ | 52,349 | $ | 33,560 | $ | (126,225 | ) | $ | 18,477 | ||||||
Ratio of earnings to fixed charges |
N/A | (2) | 4.84 | 2.96 | N/A | (3) | 7.57 | ||||||||||
(1) | The representative interest portion of rental expense was deemed to be one-third of all rental expense, except for the rental expense related to the off-balance sheet financing leases, as described in the footnotes to the financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2008 which was deemed to be all interest. |
(2) | For the year ended December 31, 2005 our earnings were insufficient to cover fixed charges; the amount of additional earnings needed to cover fixed charges for the year was $4.5 million. |
(3) | For the year ended December 31, 2008 our earnings were insufficient to cover fixed charges; the amount of additional earnings needed to cover fixed charges for the year was $133.1 million. |