EX-12.1 7 d702724dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges and Ratio of Earnings to Combined Fixed Charges and

Preferred Stock Dividends

 

     Year Ended December 31,  
     2009     2010     2011     2012     2013  

Earnings:

          

Loss before income taxes

   $ (23,648   $ (18,682   $ (25,653   $ (71,135   $ (28,213

Add Fixed Charges (from below)

     526        374        329        225        187   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings (loss) to cover fixed charges

     (23,122     (18,308     (25,324     (70,910     (28,026
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges:

          

Interest expense

     110        —          —         —         —    

Interest component of rent expense(1)

     416        374        329        225        187   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     526        374        329        225        187   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges(2)

     N/A (3)     N/A (3)     N/A (3)     N/A (3)     N/A (3)
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Represents the estimated portion of rental expense from operating leases that is considered by us to be representative of interest.
(2) We have not had any preferred stock outstanding during the periods presented; therefore, the ratio of earnings to (and the deficiency of earnings available to cover) combined fixed charges and preferred stock dividends is the same as our ratio of earnings to (and the deficiency of earnings available to cover) fixed charges alone.
(3) Earnings were insufficient to cover fixed charges for each of the periods presented. The amount of the coverage deficiency was $23.6 million, $18.7 million, $25.7 million, $71.1 million and $28.2 million for the years ended December 31, 2009, 2010, 2011, 2012 and 2013, respectively.