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EXHIBIT 12.1
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<CAPTION>
HISTORICAL HISTORICAL PRO FORMA
-------------------------------------------------- ------------------- -----------------------
SIX SIX TWELVE SIX
MONTHS MONTHS MONTHS MONTHS
ENDED ENDED ENDED ENDED
TWELVE MONTHS ENDED DECEMBER 31, JUNE 30, JUNE 30, DECEMBER 31, JUNE 30,
-------------------------------------------------- -------- -------- ------------ --------
1995 1996 1997 1998 1999 1999 2000 1999 2000
-------- -------- -------- ------- ------- -------- -------- ------------ --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Income (loss) from continuing
operations before income
taxes and extraordinary
items(a)................... $(19,318) $ 98,276 $196,774 $(6,753) $28,460 $ 9,998 $36,632 $ 7,289 $41,984
Fixed charges:
Interest expense(b)........ 26,391 31,997 30,638 42,489 44,904 20,898 29,542 46,217 24,190
Interest factor portion of
rentals(c)............... 6,632 7,960 8,695 8,790 9,570 2,744 5, 767 9,570 5,767
-------- -------- -------- ------- ------- ------- ------- ------- -------
Total fixed
charges............ 33,023 39,957 39,333 51,279 54,474 23,642 35,309 55,787 29,957
Earnings before income taxes
and fixed charges.......... $ 13,705 $138,233 $236,107 $44,526 $82,934 $33,640 $71,941 $63,076 $71,941
======== ======== ======== ======= ======= ======= ======= ======= =======
Ratio of earnings to fixed
charges.................... 0.42(d) 3.46 6.00 0.87(e) 1.52 1.42 2.04 1.13 2.40
======== ======== ======== ======= ======= ======= ======= ======= =======
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(a) Income (loss) from continuing operations before income taxes and
extraordinary items has been 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 for the twelve months ended December 31, 1998.
