<PAGE> 1
Exhibit 12.1
STATEMENT OF COMPUTATION OF RATIOS
<TABLE>
<CAPTION>
Nine Months
Ended
Twelve Months Ended December 31, September 30,
----------------------------------------------------------- ------------------------
1995 1996 1997 1998 1999 1999 2000
----------- ----------- ----------- ----------- ----------- ------------ ------------
<S> <C> <C> <C> <C> <C> <C> <C>
Earnings (a) $ (19,318) $ 98,276 $ 196,774 $ (6,753) $ 28,460 $ 15,920 $ 70,539
Fixed charges:
Interest expense (b) 26,391 31,997 30,638 42,489 44,904 31,917 45,360
Interest factor portion of rentals (c) 6,632 7,960 8,695 8,790 12,737 8,931 10,889
---------- ---------- ---------- ---------- ---------- ----------- -----------
Total fixed charges 33,023 39,957 39,333 51,279 57,641 40,848 56,249
Earnings before fixed charges $ 13,705 $ 138,233 $ 236,107 $ 44,526 $ 86,101 $ 56,768 $ 126,788
========== ========== ========== ========== ========== =========== ===========
Ratio of earnings to fixed charges --(d) 3.46 6.00 --(e) 1.49 1.39 2.25
========== ========== ========== ========== ========== =========== ===========
</TABLE>
(a) Earnings is defined as income (loss) from continuing operations before
income taxes, minority interest expense and extraordinary items,
adjusted to include only distributed income of less-than-fifty-percent-
owned persons.
(b) Interest expense consists of interest expense incurred from continuing
operations and amortization of debt issuance costs.
(c) Interest factor portion of rentals is estimated to be one third of rental
expense.
(d) In 1995, earnings, as-defined, before fixed charges were inadequate to
cover fixed charges by $19.3 million.
(e) In 1998, earnings, as-defined, before fixed charges were inadequate to
cover fixed charges by $6.8 million.
