EX-12 48 d538143dex12.htm EX-12 EX-12

Exhibit 12

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

The following table sets forth our ratio of earnings to fixed charges for each of the periods shown.

 

     Year Ended
December

31, 2008
     Year Ended
December

31, 2009
     Year Ended
December

31, 2010
     Year Ended
December

31, 2011
     Period from
January 1,

2012 to July
27, 2012
    Period
from July
28, 2012 to
December

31, 2012
    Quarter
Ended
March 31,
2013
    Twelve Months
Ended March
31, 2013
 
     (Predecessor)      (Predecessor)      (Predecessor)      (Predecessor)      (Predecessor)     (Successor)     (Successor)     (Combined)  

Earnings:

                    

Income (loss) before income taxes

   $ 63,821       $ 100,424       $ 82,378       $ 122,151       $ (14,599   $ (6,906   $ (42,325   $ (67,122

Add: fixed charges

     98,661         87,320         89,401         133,912         73,734        91,049        48,537        181,840   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Earnings as adjusted:

   $ 162,482       $ 187,744       $ 171,779       $ 256,063       $ 59,135      $ 84,143      $ 6,212      $ 114,718   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Computation of Fixed Charges:

                    

Interest, expensed and capitalized

   $ 51,171       $ 41,725       $ 41,399       $ 77,982       $ 42,034      $ 62,168      $ 33,951      $ 120,028   

Interest portion of rent expense

     47,490         45,595         48,002         55,930         31,700        28,881        14,586        61,812   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

   $ 98,661       $ 87,320       $ 89,401       $ 133,912       $ 73,734      $ 91,049      $ 48,537      $ 181,840   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

     1.6x         2.2x         1.9x         1.9x         0.8 x        0.9x        0.1x        0.6x   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

   

 

 

   

 

 

 

These ratios are computed by dividing the total earnings by the total fixed charges. For purposes of calculating the ratio of earnings to fixed charges, earnings represent pre-tax income from continuing operations plus fixed charges. Fixed charges consist of interest expense on all indebtedness plus amortization of debt issuance costs and the portion of rental expense that we believe is representative of the interest component of rental expense.