EX-12.1 3 a2216444zex-12_1.htm EX-12.1

Exhibit 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

($ in thousands)

 

 

 

Six Months Ended

 

Year Ended

 

 

 

June 30,

 

December 31,

 

 

 

2013

 

2012

 

2012

 

2011

 

2010

 

2009

 

2008

 

Pre-tax loss from continuing operations

 

(82,928

)

(21,742

)

(33,459

)

(37,593

)

(74,151

)

4,928

 

21,367

 

Add:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

32,424

 

32,299

 

67,098

 

58,953

 

52,366

 

48,794

 

33,459

 

Total adjusted earnings (loss) available for payment of fixed charges

 

(50,504

)

10,557

 

33,639

 

21,360

 

(21,785

)

53,722

 

54,826

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

16,308

 

14,570

 

31,298

 

24,143

 

17,755

 

14,914

 

12,891

 

Amortization of debt discount and deferred financing costs

 

3,126

 

5,250

 

10,261

 

9,024

 

5,997

 

7,713

 

1,030

 

Portion of rental expense representing interest

 

12,990

 

12,479

 

25,539

 

25,786

 

28,614

 

26,167

 

19,538

 

Total Fixed Charges

 

32,424

 

32,299

 

67,098

 

58,953

 

52,366

 

48,794

 

33,459

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges

 

(a)

 

(a)

 

(a)

 

(a)

 

(a)

 

1.1

 

1.6

 

 


(a)               Earnings were insufficient to cover fixed charges by $82.9 million, $21.7 million, $33.5 million, $37.6 million, and $74.2 million for the six months ended June 30, 2013 and 2012, and the years ended December 31, 2012, 2011 and 2010, respectively.