EX-12.1 4 a16-6604_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,

 

 

 

2016

 

2015

 

 

 

 

 

 

 

Loss from continuing operations excluding income or loss from equity investments

 

$

(209,277

)

$

(120,343

)

Adjustments:

 

 

 

 

 

Fixed charges

 

46,700

 

102,073

 

Distributed income from equity investments

 

3,981

 

16,962

 

Capitalized interest, net of amortization

 

756

 

1,297

 

Total loss

 

$

(157,840

)

$

(11

)

Fixed charges:

 

 

 

 

 

Interest expense

 

$

44,451

 

$

99,252

 

Capitalized interest

 

14

 

—

 

Portions of rent which represent an interest factor

 

2,235

 

2,821

 

Total fixed charges

 

$

46,700

 

$

102,073

 

Preferred stock dividends

 

$

—

 

$

—

 

Total fixed charges and preferred stock dividends

 

$

46,700

 

$

102,073

 

 

 

 

 

 

 

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.