EX-12.1 4 exhibit_121xs-3xapril2016.htm EXHIBIT 12.1 Exhibit
Exhibit 12.1


Statement of Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
Three Months Ended March 31, 2016
 
Years Ended December 31,
 
 
2015
2014
2013
2012
2011
 
(in thousands, except for ratio and percentages)
 
 
 
 
 
 
 
 
Pre-tax income (loss) from continuing operations
$
(30,567
)
 
$
(557,800
)
$
(734,875
)
$
(626,044
)
$
31,996

$
80,254

 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
Interest expense
$
21,626

 
$
85,858

$
74,606

$
24,060

$
15,034

$
50,417

Interest capitalized
—

 
—

—

—

—

—

Amortization of debt discounts/premiums/debt issuance costs
45

 
278

78

554

1,619

4,836

 
 
 
 
 
 
 
 
Rent expense
4,410

 
18,059

38,912

57,670

57,110

49,352

Effective interest rate of term loan
7.13
%
 
7.13
%
7.13
%
7.13
%
7.13
%
7.13
%
Estimate of interest within rental expense
315

 
1,288

2,775

4,113

4,073

3,519

Total fixed charges
$
21,986

 
$
87,424

$
77,459

$
28,727

$
20,726

$
58,772

 
 
 
 
 
 
 
 
Subtract noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges
4,161

 
(6,646
)
(764
)
—

—

—

 
 
 
 
 
 
 
 
Total earnings
$
(12,742
)
 
$
(463,730
)
$
(656,652
)
$
(597,317
)
$
52,722

$
139,026

 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
N/A

 
N/A

N/A

N/A

2.54

2.37

 
 
 
 
 
 
 
 
Deficiency of earnings available to cover fixed charges
$
(34,728
)
 
$
(551,154
)
$
(734,111
)
$
(626,044
)
N/A

N/A