EX-12.1 8 dex121.htm STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratios of Earnings to Fixed Charges

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges and

Ratio of Earnings to Combined Fixed Charges and Preferred Unit Distributions

($ in thousands except ratios)

 

     Predecessor (1)        
    

Year

Ended
December 31,

    Period
from
January 1,
2007
through
July 20,
    Period
from July 21,
2007 through
December 31,
     Year Ended December 31,    

Three

Months
Ended
March 31,

 
     2006     2007     2007      2008     2009     2010     2011  

Pre-tax income (loss) from continuing operations

   $ (35,855   $ (26,118   $ 13,346       $ 18,066      $ (16,300   $ (23,589   $ 2,704   

Fixed charges:

               

Interest expense and amortization of debt issuance costs

     1,989        1,071        5,489         26,951        51,399        48,638        9,052   

Capitalized interest

     670        591        —           872        —          3,802        11   

Estimated interest associated with rental expense (2)

     440        449        362         1,255        1,526        1,595        1,415   

Total fixed charges

     3,099        2,111        5,851         29,078        52,925        54,035        10,478   

Preferred unit distributions

     —          —          —           —          —          2,243        3,035   

Total combined fixed charges and preferred unit distributions

     3,099        2,111        5,851         29,078        52,925        56,278        13,513   

Depreciation of capitalized interest

     20        16        22         54        54        54        86   

Capitalized interest

     (670     (591     —           (872     —          (3,802     (11

Pre-tax income (loss) from continuing operations plus fixed charges

   $ (33,406   $ (24,582   $ 19,219       $ 46,326      $ 36,679      $ 26,698      $ 13,257   

Ratio of earnings to fixed charges

     —          —          3.3         1.6        —          —          1.3   

Ratio of earnings to combined fixed charges and preferred unit distributions

     —          —          3.3         1.6        —          —          —     

 

(1) The historical financial information for periods prior to the contribution of the assets, liabilities and operations to us on July 20, 2007 reflects the assets, liabilities and operations of our predecessor.
(2) Calculated as one third of rent expense, which is a reasonable approximation of the interest factor.