Computation of Ratio of Earnings to fixed charges and
Earnings to fixed charges and preferred dividends
($ in thousands, except ratios)

	For the Years Ended December 31,

	2011			2010			2009			2008			2007
Earnings:
Pre-tax income from continuing operations before earnings from equity method investments and other items(1)	$	(153,762	)	$	(250,537	)	$	(793,786	)	$	(322,646	)	$	106,840
Add: Fixed charges as calculated below		348,664			349,041			485,624			671,304			635,277
Add: Distributions of earnings from equity method investments		85,766			32,650			36,766			48,196			49,486
Less: Capitalized interest		(788	)		(466	)		(263	)		(2,501	)		(3,994	)

Total earnings	$	279,880		$	130,688		$	(271,659	)	$	394,353		$	787,609
Fixed charges:
Interest expense(2)	$	345,914		$	346,500		$	481,116		$	666,706		$	629,272
Add: Capitalized interest		788			466			263			2,501			3,994
Implied interest component on the company's rent obligations		1,962			2,075			4,245			2,097			2,011

Fixed charges	$	348,664		$	349,041		$	485,624		$	671,304		$	635,277
Preferred dividends		42,320			42,320			42,320			42,320			42,320

Fixed charges and preferred dividends	$	390,984		$	391,361		$	527,944		$	713,624		$	677,597
Earnings to fixed charges(3)		—			—			—			—			1.2x
Earnings to fixed charges and preferred dividends(3)		—			—			—			—			1.2x
Explanatory Notes:

(1): Prior period presentation has been restated to conform to current period presentation.
(2): For the years ended December 31, 2011, 2010, 2009, 2008 and 2007, interest expense includes $1,126, $31,632, $68,025, $49,177 and $19,760, respectively, of interest expense reclassified to discontinued operations.
(3): For the years ended December 31, 2011, 2010, 2009 and 2008, earnings were not sufficient to cover fixed charges by $68,784, $218,353, $757,283 and $276,951, respectively, and earnings were not sufficient to cover fixed charges and preferred dividends by $111,104, $260,673, $799,603 and $319,271, respectively.