EX-12.1 8 g17580exv12w1.htm EX-12.1 EX-12.1
Exhibit 12.1
COMPUTATION OF EARNINGS TO FIXED CHARGES
                                                             
    Pre-predecessor     Predecessor     Successor
                    For     For              
    As of and   As of and   the period from     the period   Period from     Period from    
    for the year   for the year   January 1,     from August   January 1,     May 18, 2007   For the year
    ended   ended   2006 to     15, 2006 to   2007     to   ended
    December 31,   December 31,   August 15,     December 31,   to May 17,     December 31,   December 31,
    2004   2005   2006     2006   2007     2007   2008
(in millions)   $   $   $     $   $     $   $
                 
Computation of Earnings:
                                                            
Income (loss) before tax expense
     145.5       60.1       110.6         65.6       27.9         13.3       (107.0 )
Net interest expense
     27.3       28.5       12.7         6.3       6.3         67.2       89.2  
Interest portion of operating lease expenses
     0.7       0.9       0.4         0.7       0.2         0.9       0.9  
                 
Earnings
     173.5       89.5       123.7         72.6       34.4         81.4       (16.9 )
                 
Computation of Fixed Charges:
                                                            
Net interest expense
     27.3       28.5       12.7         6.3       6.3         67.2       89.2  
Capitalized interest
     —       —       —         —       —         —       —  
Interest portion of operating lease expenses
     0.7       0.9       0.4         0.7       0.2         0.9       0.9  
                 
Fixed charges
     28.0       29.4       13.1         7.0       6.5         68.1       90.1  
                 
 
                                                            
Ratio of earnings to fixed charges: (1)
     6.2       3.0       9.4         10.4       5.3         1.2       —  
                 
 
(1)   For purposes of computing the ratio of earnings to fixed charges, earnings consist of income (loss) before income tax expense plus fixed charges. Fixed charges consist of interest expense, amortization of deferred financing fees and a portion of rental expense that management believes is representative of the interest component of rental expense. For the year ended December 31, 2008, fixed charges exceeded earnings by $107.0 million.