Attached files
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO
FIXED CHARGES
(in
thousands, except ratios)
Nine
months ended
September
30, 2009
|
12/31/08
|
12/31/07
|
12/31/06
|
12/31/05
|
12/31/04
|
|||||||||||||||||||
Pre-tax
income from continuing operations
|
$ | 72,030 | $ | 192,084 | $ | 206,344 | $ | 159,906 | $ | 150,289 | $ | 89,518 | ||||||||||||
Interest
expense
|
36,016 | 26,209 | 17,287 | 10,247 | 6,048 | 2,067 | ||||||||||||||||||
Capitalized
interest
|
21,145 | 23,209 | 18,104 | 9,339 | - | - | ||||||||||||||||||
Earnings
|
$ | 108,046 | $ | 218,293 | $ | 233,631 | $ | 170,153 | $ | 156,337 | $ | 91,585 | ||||||||||||
Ratio
of earnings to fixed charges
|
1.9 | 4.4 | 6.3 | 8.7 | 25.8 | 44.3 |
For
purposes of this table, “earnings” consists of income before income taxes from
continuing operations plus fixed charges and less capitalized
interest. “Fixed charges” consists of interest expense and
capitalized interest (for both continuing and discontinued
operations).