EX-12.1 2 a15-17988_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Computation of Ratio of Earnings to Combined Fixed Charges and Preference Dividends

 

 

 

Nine Months Ended September
30,

 

 

 

2015

 

2014

 

 

 

 

 

 

 

Loss from continuing operations excluding income or loss from equity investments

 

$

(2,640,940

)

$

(437,790

)

Adjustments:

 

 

 

 

 

Fixed charges

 

305,878

 

301,131

 

Distributed income from equity investments

 

25,075

 

9,514

 

Capitalized interest, net of amortization

 

3,822

 

3,637

 

Total loss

 

$

(2,306,165

)

$

(123,508

)

Fixed charges:

 

 

 

 

 

Interest expense

 

$

298,585

 

$

292,648

 

Capitalized interest

 

 

 

Portions of rent which represent an interest factor

 

7,293

 

8,483

 

Total fixed charges

 

$

305,878

 

$

301,131

 

Preferred stock dividends

 

$

 

$

 

Total fixed charges and preferred stock dividends

 

$

305,878

 

$

301,131

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preference dividends

 

N/A

 

N/A

 

 

Total loss consists of loss from continuing operations before income taxes and are adjusted to include only distributed income from affiliates accounted for on the equity method and fixed charges (excluding capitalized interest).  Fixed charges consist of interest incurred on indebtedness, the portion of operating lease rentals deemed representative of the interest factor and the amortization of debt expense.