EX-12.1 2 d67508exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
     Earnings consist of income (loss) from continuing operations before income tax, cumulative effect of changes in accounting principles, and fixed charges. Fixed charges consist of interest and financing expense, amortization of deferred financing costs, and the interest component of operating leases, estimated to be one third of rent expense.
     For the years ended December 31, 2008, 2007 and 2006, the six month transition period from July 1, 2005 to December 31, 2005, and the years ended June 30, 2005 and 2004, our ratio of earnings to fixed charges was less than one. For the years ended December 31, 2008, 2007, and 2006, our earnings were less than our fixed charges by approximately $483 million, $144 million, and $21 million, respectively. For the transition period from July 1, 2005 to December 31, 2005, our earnings were less than our fixed charges by approximately $27 million. For the years ended June 30, 2005 and 2004, our earnings were less than our fixed charges by approximately $11 million and $12 million, respectively.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                                                 
                            Six Months Ended    
    Fiscal Years Ended December 31,   December 31, 2005   Fiscal Years Ended June 30,
    2008   2007   2006           2005   2004
     
    (In thousands)
Earnings
                                                
 
                                                
Income (loss) from continuing operations before income taxes
   $ (479,991 )     (143,952 )     (20,579 )     (27,205 )     (11,371 )     (12,150 )
Fixed charges
     46,015       32,280       27,173       9,218       8,120       1,800  
Undistributed equity method (income) loss
     (2,909 )     393       —       —       —       —  
     
Income (loss) before income taxes and fixed charges
  $ (436,885 )     (111,279 )     6,594       (17,987 )     (3,251 )     (10,350 )
     
 
                                                
Fixed Charges
                                                
 
                                                
Interest and financing costs
   $ 46,015       32,280       27,173       9,218       8,120       1,800  
     
Total fixed charges
   $ 46,015       32,280       27,173       9,218       8,120       1,800  
     
 
                                                
Ratio of earnings (loss) to fixed charges (1)
     N/A     N/A     N/A       N/A     N/A     N/A
 
                                                
Amount of the deficiency
   $ 482,900       143,559       20,579       27,205       11,371       12,150  
     
 

(1)   Fixed charges exceed earnings in each of the periods presented.