EX-12.1 6 d631307dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES

Our ratio of earnings to fixed charges is as follows (in thousands):

 

     Six months
ended June 30, 2018		      2017      2016      2015      2014     2013  

Earnings:

                 

Income (loss) from continuing operations before provision for income taxes and noncontrolling interest

    $ 9,455      $ 245,931      $ 78,225      $ 43,124      $ (45,321 )    $ (440,859 ) 

Interest expense and other

      82,388        65,467        63,399        57,894        62,919       5,748  

Portion of rents representative of the interest factor(1)

      10,156        14,834        11,994        13,480        35,516       38,850  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  
     101,999      $ 326,232      $ 153,618      $ 114,498      $ 53,114     $ (396,261 ) 

Fixed charges:

                 

Interest expense, including amount capitalized

    $ 82,388      $ 67,062      $ 74,624      $ 73,603      $ 85,361     $ 8,886  

Portion of rents representative of the interest factor(1)

      10,156        14,834        11,994        13,480        35,516       38,850  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  
   $ 92,544      $ 81,896      $ 86,618      $ 87,083      $ 120,877     $ 47,736  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Ratio of earnings to fixed charges(2)

      1.10x        3.98x        1.77x        1.31x        —         —    
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

 

(1)

33% of rental expense

(2)

For 2014 and 2013, earnings were deficient to cover fixed charges by $67,763 and $443,997, respectively, primarily as a result of operating losses.