EX-12.1 3 dex121.htm STATEMENT RE COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement re Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

(Dollar amounts in thousands)

     Successor           Predecessor  
   Three-month
period ended
March 31,		           Three-month
period ended
March 31,		  
        
     2011           2010  

Earnings:

         

Income (loss) from continuing operations before income taxes

    $ (5,275 )        $ 21,096   

Less: Earnings from equity method investments

      —              (1,144 ) 

Plus: Dividends from equity method investees

      —              —     

Fixed charges

      14,805            721   
                    

Earnings adjusted for fixed charges

    $ 9,530          $ 20,673   
                    

Fixed charges:

         

Interest expense

    $ 14,122          $ 36   

Interest component of rent
expense (1)

      683            685   
                    

Total fixed charges

    $ 14,805          $ 721   
                    

Ratio of earnings to fixed charges

      (2)            28.67   
                    

 

(1) One-third of rent expense is deemed to be representative of interest.
(2) Our earnings were insufficient to cover fixed charges by $5.3 million for the three month period ended March 31, 2011.