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EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
(Unaudited)
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THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
------------------------- -------------------------
1999 2000 1999 2000
---------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
Earnings:
Loss before cumulative effect of a change in
accounting principle ......................... $ (95,311) $ (72,407) $ (147,069) $ (121,635)
Fixed charges, less interest capitalized ............ 46,203 55,064 90,156 109,525
---------- ---------- ---------- ----------
Earnings ...................................... $ (49,108) $ (17,343) $ (56,913) $ (12,110)
========== ========== ========== ==========
Fixed charges:
Interest expense, including interest capitalized .... $ 42,120 $ 45,659 $ 82,619 $ 92,026
Amortization of deferred financing costs ............ 1,143 1,152 2,260 2,304
Interest portion of rental expense .................. 8,433 8,296 16,355 16,402
---------- ---------- ---------- ----------
Fixed charges ................................ $ 51,696 $ 55,107 $ 101,234 $ 110,732
========== ========== ========== ==========
Ratio of earnings to fixed charges ......................... -- -- -- --
========== ========== ========== ==========
Deficiency of earnings available to cover
fixed charges ....................................... $ (100,804) $ (72,450) $ (158,147) $ (122,842)
========== ========== ========== ==========
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