Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Nine Mo's. Nine Mo's. For the Year Ended December 31,
2001 2000 2000 1999 1998 1997 1996 1995
Earnings.............................. 115,173 89,441 127,228 104,241 74,577 139,249 156,160 162,786
Add back income taxes................. 1,175 5,018 4,648 (1,525) (20,473) -- -- --
Add back fixed charges - interest
on Bank Facility .................... 4,246 13,249 17,167 9,934 4,473 4,271 6,553 6,424
- interest on Trust Preferred........ 5,565 5,663 7,582 8,288 8,540 6,998 -- --
Other Fixed Charges................... 295 262 349 349 290 259 112 84
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Earnings before income taxes
and fixed charges................. 126,454 113,633 156,974 121,287 67,405 150,777 162,825 169,294
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Fixed Charges
Interest Expense - Bank Facility..... 4,246 13,249 17,167 9,934 4,473 4,271 6,553 6,424
Interest Expense - Trust Preferreds.. 5,565 5,663 7,582 8,288 8,540 6,998 -- --
Other Fixed Charges................... 295 262 349 349 290 259 112 84
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Total Interest.................... 10,106 19,174 25,098 18,571 13,303 11,528 6,665 6,508
Preference Share Dividends........... -- -- -- -- -- -- -- 2,536
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Total Fixed Charges............... 10,106 19,174 25,098 18,571 13,303 11,528 6,665 9,044
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Ratio of Earnings to Fixed Charges.... 12.51 5.93 6.25 6.53 5.07 13.08 24.43 26.01