Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends
(In thousands, except ratios)

	Three Months Ended March 31,						Years Ended December 31,

	2013			2012			2012			2011		2010		2009			2008
Earnings:
Income (loss) before income taxes	$	8,759		$	(27,727	)	$	(67,066	)	$	5,399	$	3,412	$	(74,730	)	$	(221,636	)
Adjustments:
Equity investment (income) loss		67			—			(373	)		—		—		—			—
Interest capitalized		(52,804	)		(92	)		(53,492	)		—		—		—			—

Income (loss) before income taxes, as adjusted	$	(43,978	)	$	(27,819	)	$	(120,931	)	$	5,399	$	3,412	$	(74,730	)	$	(221,636	)
Fixed charges		58,221			13,287			86,589			17,808		23,087		19,021			24,588

Total earnings	$	14,243		$	(14,532	)	$	(34,342	)	$	23,207	$	26,499	$	(55,709	)	$	(197,048	)

Fixed charges:
Interest expense and amortization of finance costs	$	57,398		$	13,129		$	85,372		$	17,373	$	22,655	$	18,590		$	24,182
Rental expense representative of interest factor		823			158			1,217			435		432		431			406

Total fixed charges	$	58,221		$	13,287		$	86,589		$	17,808	$	23,087	$	19,021		$	24,588

Ratio of earnings to fixed charges		—	⁽¹⁾		—	⁽²⁾		—	⁽⁴⁾		1.3		1.1		—	⁽⁶⁾		—	⁽⁷⁾

Total fixed charges	$	58,221		$	13,287		$	86,589		$	17,808	$	23,087	$	19,021		$	24,588
Pre-tax preferred dividend requirements		—			1,102			88,445			—		—		—			—

Total fixed charges plus preference dividends	$	58,221		$	14,389		$	175,034		$	17,808	$	23,087	$	19,021		$	24,588

Ratio of earnings to combined fixed charges and preference dividends		—	⁽¹⁾		—	⁽³⁾		—	⁽⁵⁾		1.3		1.1		—	⁽⁶⁾		—	⁽⁷⁾

⁽¹⁾: Due to the Company's loss for the three months ended March 31, 2013, the ratio coverage was less than 1:1. The Company must generate additional earnings of $44.0 million to achieve a coverage ratio of 1:1.
⁽²⁾: Due to the Company's loss for the three months ended March 31, 2012, the ratio coverage was less than 1:1. The Company must generate additional earnings of $27.8 million to achieve a coverage ratio of 1:1.
⁽³⁾: Due to the Company's loss for the three months ended March 31, 2012, the ratio coverage was less than 1:1. The Company must generate additional earnings of $28.9 million to achieve a coverage ratio of 1:1.
⁽⁴⁾: Due to the Company's loss in 2012, the ratio coverage was less than 1:1. The Company must generate additional earnings of $120.9 million to achieve a coverage ratio of 1:1.
⁽⁵⁾: Due to the Company's loss in 2012, the ratio coverage was less than 1:1. The Company must generate additional earnings of $209.4 million to achieve a coverage ratio of 1:1.
⁽⁶⁾: Due to the Company's loss in 2009, the ratio coverage was less than 1:1. The Company must generate additional earnings of $74.7 million to achieve a coverage ratio of 1:1.
⁽⁷⁾: Due to the Company's loss in 2008, the ratio coverage was less than 1:1. The Company must generate additional earnings of $221.6 million to achieve a coverage ratio of 1:1.