EX-7 16 d7124650_ex-7.htm
Exhibit 7
 
 
Statement of Ratio of Earning to Fixed Charges
 
   
Year Ended December 31,
 
   
(Dollars in thousands)
 
                     
   
2015
   
2014
   
2013
   
2012
   
2011
 
Consolidated income (loss) before income tax and non controling interest
   
(41,694
)
   
(47,211
)
   
14,518
     
(65,733
)
   
(19,972
)
Income (loss) from discontinued operations
   
-
     
-
     
-
     
-
     
-
 
Investment in affiliates
   
817
     
1,056
     
520
     
1,175
     
1,073
 
Interest expense continuing operations
   
33,472
     
32,825
     
30,840
     
33,576
     
33,103
 
Amortization of capitalized interest
                                       
Amortization of debt issue costs
   
2,607
     
2,272
     
2,711
     
2,217
     
2,323
 
Interest expense discontinued operations
   
-
     
-
     
-
     
-
     
-
 
Earnings
   
(4,798
)
   
(11,058
)
   
48,589
     
(28,765
)
   
16,527
 
                                         
Interest expenses continuing operations
   
33,472
     
32,825
     
30,840
     
33,576
     
33,103
 
Interest expenses discontinued operations
   
-
     
-
     
-
     
-
     
-
 
Amortization of debt issue
   
2,607
     
2,272
     
2,711
     
2,217
     
2,323
 
Capitalized interest
   
-
     
-
     
-
     
-
     
-
 
Fixed charges
   
36,079
     
35,097
     
33,551
     
35,793
     
35,426
 
Ratio of earnings to fixed charges
   
-
     
-
     
1.4
     
-
(1)
   
-
 
                                         
Dollar amount of deciciency in earnings to fixed
                                       
charges
   
40,877
     
46,155
             
64,558
(1)
   
18,899
 
                                         
(1) In this fiscal year the earnings were inadequate to cover fixed charges.