EX-12.1 5 d609790dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

     Six Months Ended     Fiscal Year Ended  
(In thousands)    June 30, 2018     December 31, 2017     December 31, 2016     December 31, 2015     December 31, 2014  

Earnings:

           

Add:

           

Loss before income taxes

      (66,079 )      (148,863 )      (235,104 )      (243,528 )      (172,989 ) 

Fixed charges

      28,874       65,758       35,991       14,066       10,040  

Amortization of capitalized interest

      174       157       107       62       30  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

      (37,031 )      (82,948 )      (199,006 )      (229,400 )      (162,919 ) 

Less:

           

Capitalized interest

      154       516       939       838       459  

Net loss attributable to non-controlling interests and redeemable non-controlling interests

      (125,214 )      (200,628 )      (260,523 )      (266,345 )      (137,036 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

      (125,060 )      (200,112 )      (259,584 )      (265,507 )      (136,577 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings (loss)

      88,029       117,164       60,578       36,107       (26,342 ) 

Fixed Charges:

           

Interest expense (includes amortization of financing fees)

      28,258       64,264       34,008       12,568       9,323  

Capitalized interest

      154       516       939       838       459  

Interest within rental expense

      462       978       1,044       660       258  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

      28,874       65,758       35,991       14,066       10,040  

Ratio of earnings to fixed charges (1)

      3.0       1.8       1.7       2.6       —    

 

(1)

In the year ended December 31, 2014, earnings were insufficient to cover fixed charges by approximately $36 million.