EX-12.1 5 d326182dex121.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Our earnings are inadequate to cover fixed charges. The following table sets forth the dollar amount of the coverage deficiency for each of the years ended December 31, 2011, 2010, 2009, 2008 and 2007. We have not included a ratio of earnings to combined fixed charges and preferred stock dividends because we do not have earnings. We have derived the deficiency of earnings to cover fixed charges from our historical financial statements. The following should be read in conjunction with our consolidated financial statements, including the notes thereto, and the other financial information included or incorporated by reference herein.

 

     Fiscal Year Ended December 31,  
     2011     2010     2009     2008     2007  
(dollars in thousands)                               

Net loss

   $ (109,388   $ (140,166   $ (87,703   $ (43,754   $ (21,518

Add back: Fixed charges

     518        367        146        183        241   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total adjusted net loss

   $ (108,870   $ (139,799   $ (87,557   $ (43,571   $ (21,277
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges:

          

Interest expense

     287        194        30        92        216   

Interest portion of rental expense

     231        173        116        91        25   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     518        367        146        183        241   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Deficiency of earnings available to fixed charges(1)

   $ (109,388   $ (140,166   $ (87,703   $ (43,754   $ (21,518
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Because of the deficiency of earnings available to cover fixed charges, the ratio information is not applicable.