Year ended December 31, | ||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
Earnings(1): |
||||||||||||||||||||
Income before income tax expense |
63,936 | 51,882 | 42,419 | 47,229 | 43,111 | |||||||||||||||
Fixed charges expensed and capitalized |
20,591 | 19,719 | 19,669 | 18,600 | 18,664 | |||||||||||||||
Capitalized interest |
(3,411 | ) | (2,585 | ) | (2,700 | ) | (900 | ) | (824 | ) | ||||||||||
81,116 | 69,016 | 59,388 | 64,929 | 60,951 | ||||||||||||||||
Fixed Charges: |
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Interest expensed and capitalized, and
amortization of capitalized expense
related to indebtedness |
20,591 | 19,719 | 19,669 | 18,600 | 18,664 | |||||||||||||||
Estimated interest component of rent
expense |
237 | 221 | 208 | 180 | 205 | |||||||||||||||
20,828 | 19,940 | 19,877 | 18,780 | 18,869 | ||||||||||||||||
Ratio of earnings to fixed charges |
3.89 | 3.46 | 2.99 | 3.46 | 3.23 |
(1) | As defined by Item 503(d) of Regulation S-K |