EX-12.1 2 a12-7262_1ex12d1.htm EX-12.1

 

Exhibit 12.1: Computation of Ratio of Earnings to Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

THREE MONTHS

 

 

 

 

 

 

 

 

 

 

 

 

 

ENDED

 

 

 

 

 

TWELVE MONTHS ENDED DECEMBER 31,

 

MARCH 31,

 

(in thousands, except ratio)

 

2007

 

2008

 

2009

 

2010

 

2011

 

2012

 

Loss from continuing operations before taxes

 

 $

(398,201)

 

$

(378,571)

 

$

(240,542)

 

$

(80,497)

 

$

(32,732)

 

 $

(3,021)

 

Share of distributed (income) loss of

 

 

 

 

 

 

 

 

 

 

 

 

 

50%-or-less-owned affiliates,

 

 

 

 

 

 

 

 

 

 

 

 

 

net of equity pickup

 

(395)

 

43,926

 

(308)

 

3,705

 

976

 

(110)

 

Amortization of capitalized interest

 

39,112

 

57,700

 

51,477

 

40,791

 

32,068

 

7,819

 

Interest

 

43,093

 

37,348

 

46,949

 

55,615

 

56,635

 

14,181

 

Less interest capitalized during the period

 

(57,530)

 

(44,893)

 

(35,931)

 

(31,221)

 

(38,032)

 

(10,253)

 

Interest portion of rental expense

 

8,564

 

7,114

 

4,354

 

3,733

 

2,360

 

480

 

(LOSS) EARNINGS

 

 $

(365,357)

 

$

(277,376)

 

$

(174,001)

 

$

(7,874)

 

$

21,275

 

 $

9,096

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 $

43,093

 

$

37,348

 

$

46,949

 

$

55,615

 

$

56,635

 

 $

14,181

 

Interest portion of rental expense

 

8,564

 

7,114

 

4,354

 

3,733

 

2,360

 

480

 

FIXED CHARGES

 

 $

51,657

 

$

44,462

 

$

51,303

 

$

59,348

 

$

58,995

 

 $

14,661

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

DEFICIENCY

 

 $

(417,014)

 

$

(321,838)

 

$

(225,304)

 

$

(67,222)

 

$

(37,720)

 

 $

(5,565)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

-

 

-

 

-

 

-

 

-

 

-