EX-12.1 7 a2212455zex-12_1.htm EX-12.1

EXHIBIT 12.1

 

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS

 

 

 

 

 

 

 

 

 

 

 

 

 

9 Months

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

 

 

For the Year Ended December 31,

 

September 30,

 

 

 

2007

 

2008

 

2009

 

2010

 

2011

 

2012

 

 

 

(in thousands)

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before income taxes

 

$

(34,167

)

$

2,295

 

$

17,394

 

$

(85,666

)

$

76,384

 

$

(240,635

)

Fixed charges

 

405

 

373

 

7,327

 

20,453

 

24,671

 

19,239

 

Earnings (Loss) as Defined

 

$

(33,762

)

$

2,668

 

$

24,721

 

$

(65,213

)

$

101,055

 

$

(221,396

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

—

 

$

—

 

$

6,858

 

$

19,400

 

$

20,224

 

$

16,126

 

Estimated interest component of rent expenses

 

405

 

373

 

469

 

1,053

 

4,447

 

3,113

 

Total Fixed Charges

 

$

405

 

$

373

 

$

7,327

 

$

20,453

 

$

24,671

 

$

19,239

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred Stock Dividends

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings (Loss) to Fixed Charges

 

Note 1

 

7.1

 

3.4

 

Note 1

 

4.1

 

Note 1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings (Loss) to Combined Fixed Charges and Preferred Dividends

 

Note 1

 

7.1

 

3.4

 

Note 1

 

4.1

 

Note 1

 

 

Note 1:  For the fiscal years ended December 31, 2007 and 2010, and the 9 months ended September 30, 2012, our earnings were insufficient to cover fixed charges by $34.2 million, $85.7 million, and $240.6 million, respectively.