EX-12.1 2 a12-28649_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Statement of Computation of Ratios

 

 

 

The Company

 

The Predecessor

 

 

 

Year Ended

 

Year Ended

 

For the Period September

 

For the Period January

 

 

 

 

 

 

 

December 31,

 

December 31,

 

28, 2010 through

 

1, 2010 through

 

For the Year Ended

 

 

 

2012

 

2011

 

December 31, 2010

 

September 27, 2010

 

2009

 

2008

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

10,716

 

$

(10,779

)

$

(10,722

)

$

(1,555

)

$

(7,039

)

$

(13,888

)

Add: Fixed charges

 

10,792

 

10,970

 

3,443

 

3,289

 

4,264

 

4,464

 

Add: Amortization of capitalized interest

 

369

 

277

 

29

 

87

 

63

 

32

 

Less: Capitalized interest

 

(1,837

)

(1,591

)

(26

)

(524

)

(308

)

(322

)

Total earnings (loss)

 

$

20,040

 

$

(1,123

)

$

(7,276

)

$

1,297

 

$

(3,020

)

$

(9,714

)

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (including amortization of deferred financing costs and discounts)

 

$

5,236

 

$

5,275

 

$

2,325

 

$

1,590

 

$

2,343

 

$

2,495

 

Capitalized interest

 

1,837

 

1,591

 

26

 

524

 

308

 

322

 

Interest within rental expense

 

3,719

 

4,104

 

1,092

 

1,175

 

1,613

 

1,647

 

Total fixed charges

 

10,792

 

10,970

 

3,443

 

3,289

 

4,264

 

4,464

 

Preferred stock dividend requirements(1)

 

440

 

 

 

 

 

 

Combined fixed charges and preferred stock dividends

 

$

11,232

 

$

10,970

 

$

3,443

 

$

3,289

 

$

4,264

 

$

4,464

 

Ratio of earnings (loss) to combined fixed charges and preferred stock dividends

 

1.78

 

 

(2)

 

(2)

 

(2)

 

(2)

 

(2)

 


(1) The Company and its Predecessor did not have any preferred stock outstanding for the year ended 2011, for the period September 28, 2010 through December, 31, 2010, the period January 1, 2010, through September 27, 2010, for the year ended 2009, and 2008.

 

(2) The shortfall of earnings (loss) to combined fixed charges and preferred dividends for the year ended December 31, 2011, for the period from September 28, 2010 to December 31, 2010, for the period from January 1, 2010 to September 27, 2010 and for the years ended December 31, 2009 and 2008 was $12.1 million, $10.7 million, $2.0 million, $7.3 million and $14.2 million, respectively.