EX-7 2 d1460227_ex-7.htm d1460227_ex-7.htm
Exhibit 7
 
 
 
Statement of Ratio of Earning to Fixed Charges

   
Year Ended December 31,
  
   
(Dollars in thousands)
  
       
   
2013
    
2012
    
2011
    
2010
    
2009
  
Consolidated income (loss) before income tax and non controlling interest
     14,518       (65,733 )     (19,972 )     1,958       (32,442 )
Income (loss) from discontinued operations
     -       -       -       (515 )     (2,131 )
Investment in affiliates
     520       1,175       1,073       341       28  
Interest expense continuing operations
     30,840       33,576       33,103       24,585       23,222  
Amortization of capitalized interest
                                        
Amortization of debt issue costs
     2,711       2,217       2,323       1,340       1,026  
Interest expense discontinued operations
     -       -       -       5       10  
Earnings
     48,589       (28,765 )     16,527       27,714       (10,287 )
                                         
Interest expenses continuing operations
     30,840       33,576       33,103       24,585       23,222  
Interest expenses discontinued operations
     -       -       -       5       10  
Amortization of debt issue
     2,711       2,217       2,323       1,340       1,026  
Capitalized interest
     -       -       -       1,010       2,354  
Fixed charges
     33,551       35,793       35,426       26,940       26,612  
Ratio of earnings to fixed charges
     1.4       - (1)     - (1)     1.0       - (1)
                                         
Dollar amount of deficiency in earnings to fixed charges
             64,558 (1)     18,899 (1)             36,899 (1)

(1) In this fiscal year the earnings were inadequate to cover fixed charges.