EX-12 5 d622148dex12.htm EX-12 EX-12

Exhibit 12

RATIO OF EARNINGS (DEFICIT) TO FIXED CHARGES

The following table sets forth our ratios of earnings (deficit) to fixed charges for the periods indicated. We have calculated the ratio of earnings (deficit) to fixed charges by dividing the sum of income from continuing operations plus fixed charges by fixed charges. Fixed charges consist of interest expense. You should read these ratios in connection with our consolidated financial statements included herein. The financial measures used in this table may not be comparable to similarly titled financial measures used in our various agreements, including our revolving credit facility and the indenture that will govern the notes offered hereby.

 

    

For the Nine

Months Ended

     Year Ended December 31,  
     September 30, 2013      2012      2011      2010      2009      2008  

EARNINGS

                 

Income (loss) from continuing operations

   $ 57,468       $ 17,307       $ 15,147       $ 9,181       $ 1,338       $ (85,046

Interest expense

     2,109         3,610         2,528         836         11         —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Income before fixed charges

   $ 59,577       $ 20,917       $ 17,675       $ 10,017       $ 1,349       $ (85,046
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

FIXED CHARGES

                 

Interest expense

   $ 2,109       $ 3,610       $ 2,528       $ 836       $ 11       $ —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Total fixed charges

   $ 2,109       $ 3,610       $ 2,528       $ 836       $ 11       $ —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

Earnings/fixed charge coverage ratio

     28.2         5.8         6.9         11.9         122.6         —   (1) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) Earnings were inadequate to cover fixed charges for the year ended December 31, 2008 by $85.0 million.