EX-12.1 3 a14-9704_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends

 

 

 

Three Months Ended March 31,

 

 

 

2014

 

2013

 

 

 

 

 

 

 

Loss from continuing operations excluding income or loss from equity investments

 

$

(169,642

)

$

(145,192

)

Adjustments:

 

 

 

 

 

Fixed charges

 

99,298

 

101,615

 

Distributed income from equity investments

 

3,355

 

—

 

Capitalized interest, net of amortization

 

1,206

 

(3,315

)

Total loss

 

$

(65,783

)

$

(46,892

)

Fixed charges:

 

 

 

 

 

Interest expense

 

$

96,471

 

$

95,087

 

Capitalized interest

 

—

 

4,133

 

Portions of rent which represent an interest factor

 

2,827

 

2,395

 

Total fixed charges

 

$

99,298

 

$

101,615

 

Preferred stock dividends

 

$

—

 

$

—

 

Total fixed charges and preferred stock dividends

 

$

99,298

 

$

101,615

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preference dividends

 

N/A

 

N/A

 

 

Total loss consists of loss from continuing operations before income taxes and are adjusted to include only distributed income from affiliates accounted for on the equity method and fixed charges (excluding capitalized interest).  Fixed charges consist of interest incurred on indebtedness, the portion of operating lease rentals deemed representative of the interest factor and the amortization of debt expense.