EX-12.1 8 vtiv-ex121_672.htm EX-12.1 vtiv-ex121_672.htm

 

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Year Ended December 31,

 

(in thousands)

 

 

2015

 

 

 

2014

 

 

 

2013

 

 

 

2012

 

 

 

2011

 

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

 

$

(143,731

)

 

$

(177,731

)

 

$

(213,249

)

 

$

(567,322

)

 

$

(139,272

)

from equity investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Add: Fixed charges

 

 

243,862

 

 

 

244,077

 

 

 

225,551

 

 

 

222,058

 

 

 

134,026

 

Less: Non-controlling interest in pre-tax income

 

 

(891

)

 

 

(830

)

 

 

(1,156

)

 

 

(1,358

)

 

 

(1,269

)

Total earnings

 

$

99,240

 

 

$

65,516

 

 

$

11,146

 

 

$

(346,622

)

 

$

(6,515

)

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

228,287

 

 

$

217,473

 

 

$

209,350

 

 

$

185,871

 

 

$

123,545

 

Write-off of deferred financing costs

 

 

—

 

 

 

10,062

 

 

 

818

 

 

 

18,580

 

 

 

2,684

 

Estimated interest portion within rental expense

 

 

15,575

 

 

 

16,542

 

 

 

15,383

 

 

 

17,607

 

 

 

7,797

 

Total fixed charges

 

$

243,862

 

 

$

244,077

 

 

$

225,551

 

 

$

222,058

 

 

$

134,026

 

Ration of earnings to fixed charges(1)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

(1)

Earnings were insufficient to cover fixed charges by $144.6 million, $178.6 million, $214.4 million, $568.7 million and $140.5 million, respectively, for the years ended December 31, 2015, 2014, 2013, 2012 and 2011.