EX-12.1 9 d456916dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Calculation of Ratios of Earnings to Fixed Charges

 

     Year Ended December 31,  
     2012     2011     2010     2009      2008  

RATIO OF EARNINGS TO FIXED CHARGES:

           

Pre-tax (loss) income from continuing operations before adjustment for income from equity investee

     (109,039     (164,284     (1,056,850     52,260         (37,042
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Fixed charges:

           

Interest expense (a)

     217,325        203,971        139,435        106,798         101,132   

Interest portion of rent expense (b)

     12,791        10,585        9,747        9,316         8,555   
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Total fixed charges

     230,116        214,556        149,182        116,114         109,687   
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Total earnings (loss)

     121,077        50,273        (907,668     168,374         72,645   
  

 

 

   

 

 

   

 

 

   

 

 

    

 

 

 

Ratio of earnings to fixed charges

     .5x        .2x        —          1.4x         0.7x   

Ratio of coverage deficiency

     (c     (c     (c        (c

 

(a) Interest expense includes the write-off and amortization of deferred financing costs and the write-off and amortization of non-cash discounts associated with our debt issuances.
(b) Includes approximately one-fourth of the rent expense for each period presented which management believes is a reasonable approximation of the interest componenet of such rentals.
(c) Due to the loss from continuing operations for the year ended December 31, 2012, 2011, 2010 and 2008, there were insufficient earnings of $109.0 million, $164.3 million, $1.1 billion and $37.0 million, respectively, to cover fixed charges.