EX-12.1 3 d664943dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES AND COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS

The following table sets forth, for the periods indicated, our ratio of earnings to fixed charges and our ratio of combined fixed charges and preference dividends to earnings.

 

     September 30,     December 31,  
     2013     2012     2012     2011      2010      2009      2008  
                 (in thousands)  

EARNINGS

                  

Earnings before minority interests and income taxes

      (44,095 )      (17,191 )      (28,327 )     1,668        8,306        3,120        5,065  

Fixed charges

      13,365        281        3,705       382        335        247        535  
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Adjusted earnings

      (30,730 )      (16,910 )      (24,622 )     2,050        8,641        3,367        5,600  
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

FIXED CHARGES

                  

Interest Expense

      12,585        30        3,207       191        205        105        354  

Portion of rental payments deemed to be interest

      780        251        498       191        130        142        181  
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Fixed charges

      13,365        281        3,705       382        335        247        535  
  

 

 

    

 

 

    

 

 

    

 

 

     

 

 

     

 

 

     

 

 

  

Preference dividends, net of tax

      1,491        1,440        1,975        743            
     September 30,     December 31,  
     2013     2012     2012     2011      2010      2009      2008  

Ratio of Earnings to Fixed Charges(1)

      —        —        —        5.4        25.8        13.6        10.5  

Ratio of Earnings to Fixed Charges and Preference Dividends(2)

      —        —        —        1.8        25.8        13.6        10.5  

 

(1) Due to the losses in the periods ended September 30, 2012 and 2013, and December 31, 2012, the ratio coverage is less than 1:1 and defaults to 0. The amount (in thousands) of the deficiency in the period ended September 30, 2012 is $16,629, the period ended September 30, 2013 is $17,365 and the period ended December 31, 2012 is $20,917.
(2) Due to the losses in the periods ended September 30, 2012 and 2013, and December 31, 2012, the ratio coverage is less than 1:1 and defaults to 0. The amount (in thousands) of the deficiency in the period ended September 30, 2012 is $15,189, the period ended September 30, 2013 is $15,874 and the period ended December 31, 2012 is $18,942.