EX-12.1 3 a2212825zex-12_1.htm EX-12.1
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Exhibit 12.1

Computation of Ratios of Earnings to Fixed Charges
(Amounts in thousands)

 
  Year ended
December 31,
2012
  Year ended
December 31,
2011
  Year ended
December 31,
2010
  Year ended
December 31,
2009
  Year ended
December 31,
2008
 

Earnings (loss):

                               

Income (loss) before equity in income of unconsolidated affiliate and income taxes

  $ 348,230   $ 326,083   $ 371,766   $ 77,220   $ (1,077,601 )

Add: Fixed charges from below

    216,608     183,067     156,852     289,374     564,614  
                       

Total earnings (loss) before equity in income of unconsolidated affiliate, income taxes and fixed charges

  $ 564,838   $ 509,150   $ 528,618   $ 366,594   $ (512,987 )

Fixed charges:

                               

Interest expense

  $ 216,608   $ 183,067   $ 156,852   $ 289,374   $ 564,614  
                       

Total fixed charges

  $ 216,608   $ 183,067   $ 156,852   $ 289,374   $ 564,614  

Ratio of earnings to fixed charges

    2.6x     2.8x     3.4x     1.3x     *  

*
Losses exceeded fixed charges by approximately $513.0 million for the year ended December 31, 2008. The coverage deficiency for total fixed charges for the year ended December 31, 2008 was $1,077.6 million to arrive at a one-to-one ratio.



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Computation of Ratios of Earnings to Fixed Charges (Amounts in thousands)