EX-12.1 44 d608685dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Successor     Predecessor  
      For the Six
Months Ended
June 30, 2014		     2013     Year Ended
December 31,
2012		     2011     August 4,
2010 through
December 31,
2010		     January 1,
2010
through
August 3,
2010		     Year Ended
December 31,
2009		  

Pre-tax income (loss) from continuing operations before adjustment for income or loss from equity investments

    $ (85,616 )    $ (213,249 )    $ (567,322 )    $ (139,272 )    $ (14,141 )    $ 16,054      $ 72,670   

Add: Fixed charges

      113,108        225,551        222,058        134,026        33,283        18,132        29,800   

Less: Non-controlling interest in pre-tax income

      (520 )      (1,156 )      (1,358 )      (1,269 )      (390 )      (775 )      (812 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

    $ 26,972      $ 11,146      $ (346,622 )    $ (6,515 )    $ 18,752      $ 33,411      $ 101,658   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges:

                 

Interest expense

    $ 105,906      $ 209,350      $ 185,871      $ 123,545      $ 31,109      $ 14,693      $ 23,125   

Write-off of deferred financing costs

      —          818        18,580        2,684        —          —          —     

Estimated interest portion within rental expense

      7,202        15,383        17,607        7,797        2,174        3,439        6,675   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 113,108      $ 225,551      $ 222,058      $ 134,026      $ 33,283      $ 18,132      $ 29,800   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges (1)

      —          —          —          —          —          1.8x        3.4x   

 

(1)

Earnings were insufficient to cover fixed charges by $214.4 million, $568.7 million, $140.5 million, and $14.5 million, respectively, for the years ended December 31, 2013, 2012, 2011 and for the period from August 4, 2010 through December 31, 2010. For the six months ended June 30, 2014 our earnings were insufficient to cover our fixed charges by $86.1 million.