EX-12.1 8 d886938dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges

 

(In thousands, except ratios)    Years Ended December 31,  
     2014     2013     2012     2011     2010  

Earnings:

          

Income (loss) from continuing operations before income taxes

   $ (17,915   $ 16,177      $ 16,702      $ 26,553      $ (7,999

Add: Fixed charges

     6,269        4,846        4,025        13,866        20,868   

Subtract: income from equity method investment

     (2,700     (1,469     (556     (1,171     (857

Subtract: income attributable to noncontrolling interest

     (10     (22     (40     (28     (48
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Earnings (losses)

$ (14,356 $ 19,532    $ 20,131    $ 39,220    $ 11,964   

Fixed Charges:

Interest expense (a)

$ 5,152    $ 3,527    $ 2,857    $ 13,062    $ 19,908   

Interest portion of rent expense

  1,117      1,319      1,168      804      960   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

$ 6,269    $ 4,846    $ 4,025    $ 13,866    $ 20,868   

Ratio of Earnings to Fixed Charges (b)

  —        4.0x      5.0x      2.8x      0.6x   

The Ratio of Earning to Fixed Charges calculation differs from the Minimum Consolidated Fixed Charge Coverage Ratio as defined in the Company’s Amended and Restated Senior Credit Facility Agreement.

 

(a) Interest expense includes interest on outstanding debt obligations, amortization of deferred financing fees, and losses on extinguishment of debt attributable to the write-offs of unamortized deferred financing fees at the time of extinguishment.
(b) Earnings were insufficient to cover Fixed Charges by $14.4 million for the year ended December 31, 2014 as a result of a goodwill and intangible assets impairment charge of $41.4 million.