EX-12.1 90 d546187dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

 

     COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES  
     Predecessor      Successor  
                   January 1      June 17                 Six Months  
     Year Ended      through      through     Year Ended     Ended  
     December 31,      June 16,      December 31,     December 31,     June 30,  

(in millions)

   2008      2009      2010      2010     2011     2012     2013  

Earnings:

                 

Income (loss) before income taxes

   $ 3.6       $ 153.8       $ 126.5       $ 1.1      $ (36.1   $ 47.9      $ (35.7

Adjustment for companies accounted for by the equity method

     10.8         13.7         3.3         (12.6     (6.7     (6.2     (10.7

Less: Capitalized interest

     —           —           —           (0.3     (1.7     (6.2     (1.5

Add: Amortization of capitalized interest

     —           —           —           0.0        0.1        0.5        0.9   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 
     14.4         167.5         129.8         (11.8     (44.4     36.0        (47.0

Fixed Charges:

                 

Interest and debt expense

     —           —           —           47.6        112.8        110.3        66.3   

Capitalized interest

     —           —           —           0.3        1.7        6.2        1.5   

Rental expense representative of interest factor

     0.8         0.7         0.3         0.7        1.6        1.8        0.8   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 
     0.8         0.7         0.3         48.6        116.1        118.3        68.6   

Total adjusted earnings available for payment of fixed charges

   $ 15.2       $ 168.2       $ 130.1       $ 36.8      $ 71.7      $ 154.3      $ 21.6   
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of Earnings to Fixed Charges

     18.4         225.0         377.1         (a     (a     1.3        (a
  

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

 

(a) Due to net losses in the period from June 17 through December 31, 2010, the year ended December 31, 2011, and the six months ended June 30, 2013, the ratio of earnings to fixed charges was less than 1. Our earnings were insufficient to cover fixed charges requirements by $11.8 million, $44.4 million, and $47.0 million for the period from June 17, 2010 through December 31, 2010, for the year ended December 31, 2011, and for the six months ended June 30, 2013, respectively.