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

Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

(in millions, except ratios)

 

    (Successor)     (Predecessor)  
    For the year
ended
December 31,
2007
    For the period
from
December 20,2006
to December 31,
2006
    For the
period from
January 1,
2006 to
December 19,
2006
  For the year ended
December 31,
 
          2005   2004     2003  

Earnings:

             

(Loss) income from continuing operations before income taxes and minority interest

  $ (181.2 )   $ (4.0 )       $ 59.0   $ 57.2   $ (29.2 )   $ (5.2 )

Add (less): Equity loss (earnings)

    —         —         —       1.6     0.2       (0.8 )

Add: Dividends

    —         —         —       —       —         0.2  
                                           

Sub-total:

    (181.2 )     (4.0 )     59.0     58.8     (29.0 )     (5.8 )

Add: Total fixed charges (per below)

    221.8       7.2       85.5     43.3     27.5       15.1  

Less: Interest capitalized

    6.2       —         2.5     1.3     0.4       0.2  
                                           

Total earnings (loss) from continuing operations before income taxes and minority interest

  $ 34.4     $ 3.2     $ 142.0   $ 100.8   $ (1.9 )   $ 9.1  
                                           

Fixed Charges:

             

Interest expense, including interest capitalized

    213.4       6.9       80.5     40.3     27.2       13.2  

Portion of rental expense representative of the interest factor

    8.4       0.3       5.0     3.0     2.3       1.9  
                                           

Total fixed charges

  $ 221.8     $ 7.2     $ 85.5   $ 43.3   $ 27.5     $ 15.1  
                                           

Ratio of Earnings to Fixed Charges

    (a )     (a )     1.7     2.3     (a )     (a )

 

(a)

For the year ended December 31, 2007, the period from December 20, 2006 to December 31, 2006 and for fiscal years 2004 and 2003 earnings were insufficient to cover fixed charges by $187.4, $4.0, $29.4 and $6.0, respectively.