EX-12.(A) 3 exhibit12a-ratioofearnings.htm EXHIBIT 12.(A) RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12(a) - Ratio of Earnings to Fixed Charges (12.31.2014)


EXHIBIT 12(a)


 
 
 
 
 
 
 
 
 
 
 
Year Ended December 31,
 
2014
 
2013
 
2012
 
2011
 
2010
EARNINGS:
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
$
(6,229
)
 
$
(2,317
)
 
$
(3,008
)
 
$
(1,802
)
 
$
(3,530
)
Add: Total federal income tax expense (benefit)
(2,330
)
 
(737
)
 
(924
)
 
(943
)
 
318

Fixed charges (see detail below)
1,793

 
1,977

 
2,902

 
3,849

 
3,150

Total earnings (loss)
$
(6,766
)
 
$
(1,077
)
 
$
(1,030
)
 
$
1,104

 
$
(62
)
FIXED CHARGES:
 
 
 
 
 
 
 
 
 
Interest expense
$
1,775

 
$
1,958

 
$
2,878

 
$
3,824

 
$
3,127

Rentals representative of the interest factor
18

 
19

 
24

 
25

 
23

Total fixed charges
$
1,793

 
$
1,977

 
$
2,902

 
$
3,849

 
$
3,150

RATIO OF EARNINGS TO FIXED CHARGES (a)
—

 
—

 
—

 
—

 
—

____________
(a)
Fixed charges exceeded "earnings" by $8.559 billion, $3.054 billion, $3.932 billion, $2.745 billion and $3.212 billion for the years ended December 31, 2014, 2013, 2012, 2011 and 2010, respectively.