EX-12.1 10 d608685dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Successor     Predecessor  
    

 

 

Year Ended December 31,

     August 4,
2010 through
December 31,
2010		     January 1,
2010
through
August 3,
2010		  

(in thousands)

    2014     2013     2012     2011      

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

    $ (177,731 )    $ (213,249 )    $ (567,322 )    $ (139,272 )    $ (14,141 )    $ 16,054   

Add: Fixed charges

      244,077        225,551        222,058        134,026        33,283        18,132   

Less: Non-controlling interest in pre-tax income

      (830 )      (1,156 )      (1,358 )      (1,269 )      (390 )      (775 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

    $ 65,516      $ 11,146      $ (346,622 )    $ (6,515 )    $ 18,752      $ 33,411   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges:

               

Interest expense

    $ 217,473      $ 209,350      $ 185,871      $ 123,545      $ 31,109      $ 14,693   

Write-off of deferred financing costs

      10,062        818        18,580        2,684        —          —     

Estimated interest portion within rental expense

      16,542        15,383        17,607        7,797        2,174        3,439   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 244,077      $ 225,551      $ 222,058      $ 134,026      $ 33,283      $ 18,132   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges (1)

      —          —          —          —          —          1.8x   

 

(1)

Earnings were insufficient to cover fixed charges by $178.6 million, $214.4 million, $568.7 million, $140.5 million, and $14.5 million, respectively, for the years ended December 31, 2014, 2013, 2012, 2011 and for the period from August 4, 2010 through December 31, 2010.