EX-12.1 3 mdr-ex121_20150331552.htm EX-12.1

 

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

Our ratio of earnings to fixed charges is as follows:

 

 

Three months ended

March 31, 2015

 

2014

 

 

2013

 

 

2012

 

 

2011

 

 

2010

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before provision for income taxes and noncontrolling interest

 

$         (7,179)

 

 

$

(45,321

)

 

$

(440,859

)

 

$

330,942

 

 

$

314,657

 

 

$

303,516

 

Interest expense and other

15,081

 

 

62,919

 

 

 

5,748

 

 

 

(372

)

 

 

3,046

 

 

 

2,584

 

Portion of rents representative of the interest factor

4,003

 

 

35,516

 

 

 

38,850

 

 

 

20,239

 

 

 

17,977

 

 

 

15,955

 

 

$         11,905

 

$

53,114

 

 

$

(396,261

)

 

$

350,809

 

 

$

335,680

 

 

$

322,055

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense, including amount capitalized

$         18,654

 

$

85,361

 

 

$

8,886

 

 

$

8,568

 

 

$

9,314

 

 

$

14,621

 

Portion of rents representative of the interest factor(1)

4,003

 

 

35,516

 

 

 

38,850

 

 

 

20,239

 

 

 

17,977

 

 

 

15,955

 

 

22,657

 

$

120,877

 

 

$

47,736

 

 

$

28,807

 

 

$

27,291

 

 

$

30,576

 

Ratio of earnings to fixed charges(2)

—

 

 

—

 

 

 

—

 

 

 

12.18x

 

 

 

12.30x

 

 

 

10.53x

 

 

(1)

33% of rental expense

(2)

For the three months ended March 31, 2015 and for the years ended December 31, 2014 and December 31, 2013 and, earnings were deficient to cover fixed charges by $10,752, $67,763 and $443,997 respectively, primarily as a result of operating losses during the periods.