EX-12.1 9 exhibit121earningstofixedc.htm EXHIBIT12.1EARNINGSTOFIXEDCHARGERATIO Exhibit12.1EarningstoFixedChargeRatio


Exhibit 12.1


STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
(Unaudited)



 
For the
 
For the
 
Year Ended
 
Year Ended
 
December 31,
 
December 31,
 
2011
 
2012
Earnings:
 
 
 
Pretax loss from continuing operations
$
(10.9
)
 
$
(29.5
)
Add:
 
 
 
Fixed charges
19.0

 
20.1

Pretax income (loss) from continuing operations adjusted for fixed charges
8.1

 
(9.4
)
 
 
 
 
Fixed Charges:
 
 
 
Interest expensed and capitalized
11.1

 
11.3

Amortization of discount and capitalized expenses related to indebtedness
3.7

 
4.2

Estimate of interest within rental expense (a)
4.2

 
4.6

Total Fixed Charges
19.0

 
20.1

Ratio of Earnings to Fixed Charges (b)
—

 
—

 
 
 
 
(a) One third of rent expense is deemed to be representative of interest.
 
 
 
(b) Our earnings were insufficient to cover fixed charges by $10.9 million and $29.5 million for the years ended December 31, 2011 and 2012, respectively.