EX-12.1 4 e610076_ex12-1.htm Unassociated Document
Exhibit 12.1
 
Ratio of Earnings to Combined Fixed Charges
 
   
Six Months
Ended
June 30,
   
Year Ended December 31,
 
   
2012
   
2011
   
2010
   
2009
   
2008
   
2007
 
   
(in 000s except ratio data)
 
Earnings
                                   
                                     
Earnings from continuing operations
                                   
before non-controlling interest
  $ 10,240     $ 11,319     $ 19,267     $ (84,356 )   $ (70,037 )   $ 3,560  
Interest expense
    7,391       15,427       15,024       16,347       21,542       30,957  
Equity investment adjustment (1)
    3,875       25,850       7,278       110,360       83,797       (1,575 )
Amortization expense debt cost
    260       594       351       317       496       528  
                                                 
Total
  $ 21,766     $ 53,190     $ 41,920     $ 42,668     $ 35,798     $ 33,470  
                                                 
Fixed Charges and Preferred Dividends
                                               
                                                 
Interest expense
  $ 7,391     $ 15,427     $ 15,024     $ 16,347     $ 21,542     $ 30,957  
Capitalized interest expense
    -       -       -       -       -       -  
Amortization expense debt costs
    260       594       351       317       496       528  
                                                 
Total
  $ 7,651     $ 16,021     $ 15,375     $ 16,664     $ 22,038     $ 31,485  
                                                 
                                                 
Ratio
    2.84       3.32       2.73       2.56       1.62       1.06  
Deficiency
                                   
 
(1) Such balances are comprised of adjustments to eliminate earnings from preferred equity investments and equity in earnings of equity investments and to add distributions from preferred equity investments and equity investments, exclusive of return of capital distributions.