EX-12.1 4 a09-5380_1ex12d1.htm EX-12.1

EXHIBIT 12.1

 

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 

 

 

Year Ended December 31,

 

Nine Months
Ended

 

 

 

(in thousands)

 

September 30,

 

 

 

2003

 

2004

 

2005

 

2006

 

2007

 

2008

 

Net income (loss) before income taxes

 

$

(166,121

)

$

(164,364

)

$

(103,595

)

$

(74,166

)

$

(86,881

)

$

(130,515

)

Fixed charges

 

12,399

 

19,450

 

17,426

 

19,362

 

25,553

 

19,830

 

Total earnings and fixed charges

 

(153,722

)

(144,914

)

(86,169

)

(54,804

)

(61,328

)

(110,685

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

12,399

 

19,450

 

17,426

 

19,362

 

25,553

 

19,830

 

Ratio of earnings to fixed charges(1)(2)

 

NM

 

NM

 

NM

 

NM

 

NM

 

NM

 

 


(1)                        The ratio of earnings to fixed charges is computed by dividing loss before taxes plus fixed charges by fixed charges. Fixed charges consist of interest expense (including interest expense from capital leases) and the estimated portion of rental expense deemed by us to be representative of the interest factor of rental payments under operating leases, plus amortization of debt issuance expenses. Earnings were insufficient to cover fixed charges by $166.1 million, $164.4 million, $103.6 million, $74.2 million and $86.9 million for the years ended December 31, 2003, 2004, 2005, 2006 and 2007, respectively, and $130.5 million for the nine month period ended September 30, 2008.

 

(2)                        NM—Not meaningful.