EX-12.01 2 ex120112312015.htm EXHIBIT 12.01 Wdesk | Exhibit


Exhibit 12.01
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 
 
For The Year Ending December 31,
 
(US$ 000's, except per share data)
 
2015

 
2014

 
2013

 
2012

 
2011

Loss from continuing operations
$
(102,285
)
 
$
(151,465
)
 
$
(276,434
)
 
$
(535,708
)
 
$
(157,517
)
Add back:
 
 
 
 
 
 
 
 
 
Provision / (credit) for income taxes
515

 
1,358

 
17,993

 
14,751

 
(3,937
)
Fixed charges
174,041

 
145,344

 
115,895

 
132,212

 
138,814

Earnings
$
72,271

 
$
(4,763
)
 
$
(142,546
)
 
$
(388,745
)
 
$
(22,640
)
 
 
 
 
 
 
 
 
 
 
Interest expense
$
114,730

 
$
104,570

 
$
100,320

 
$
107,554

 
$
111,948

Amortization of debt issuance costs
15,484

 
18,297

 
4,101

 
14,101

 
6,226

Amortization of debt issuance discount and premium, net
41,230

 
19,138

 
7,288

 
5,999

 
17,379

Assumed interest component of rent expense 1
2,597

 
3,339

 
4,186

 
4,558

 
3,261

Fixed charges
$
174,041

 
$
145,344

 
$
115,895

 
$
132,212

 
$
138,814

Ratio of earnings to fixed charges
0.42

 
(0.03
)
 
(1.23
)
 
(2.94
)
 
(0.16
)
 
 
 
 
 
 
 
 
 
 
Dollar deficiency
$
101,770

 
$
150,107

 
$
258,441

 
$
520,957

 
$
161,454

(1) 
Amounts represent those portions of rent expense (one-third) that are reasonable approximations of interest costs.