EX-12.1 7 exhibit121-statementregard.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12.1 - Statement Regarding Computations of Ratios

Exhibit 12.1


STATEMENT REGARDING COMPUTATION OF RATIOS

 
 
Nine Months Ended September 30,
 
Fiscal Year Ended December 31,
 
 
2014
 
2013
 
2013
 
2012
 
2011
 
2010
 
2009
 
 
(In thousands)
Loss before fixed charge additions
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Loss before income taxes and equity in loss of unconsolidated affiliates
 
$
(23,402
)
 
$
(16,326
)
 
$
(25,432
)
 
$
(29,578
)
 
$
(34,657
)
 
$
(28,655
)
 
$
(40,742
)
Fixed charges
 
6,515

 
9,266

 
10,710

 
10,578

 
4,038

 
2,202

 
2,142

Amortization of capitalized interest
 
215

 
214

 
286

 
119

 
 
 
 
 
 
Interest capitalized
 
(1,621
)
 
(2,081
)
 
(2,903
)
 
(5,215
)
 
(3,534
)
 
(821
)
 
(868
)
Total loss, before fixed charge addition
 
$
(18,293
)
 
$
(8,927
)
 
$
(17,339
)
 
$
(24,096
)
 
$
(34,153
)
 
$
(27,274
)
 
$
(39,468
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest expensed
 
$
4,193

 
$
5,304

 
$
6,881

 
$
4,153

 
$
146

 
$
1,356

 
$
1,251

Interest capitalized
 
1,621

 
2,081

 
2,903

 
5,215

 
3,534

 
821

 
868

Amortized premiums, discounts and capitalized expenses related to indebtedness
 
662

 
1,841

 
876

 
1,185

 
335

 
 
 
 
Estimate of interest within rental expense 
 
39

 
40

 
50

 
25

 
23

 
25

 
23

Total fixed charges
 
$
6,515

 
$
9,266

 
$
10,710

 
$
10,578

 
$
4,038

 
$
2,202

 
$
2,142

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total loss and fixed charges
 
$
(24,808
)
 
$
(18,193
)
 
$
(28,049
)
 
$
(34,674
)
 
$
(38,191
)
 
$
(29,476
)
 
$
(41,610
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges (1)
 
N/A
 
N/A
 
N/A
 
N/A
 
N/A
 
N/A
 
N/A
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deficiency of earnings to cover fixed charges
 
$
(24,808
)
 
$
(18,193
)
 
$
(28,049
)
 
$
(34,674
)
 
$
(38,191
)
 
$
(29,476
)
 
$
(41,610
)

(1) In each period presented, we incurred losses before income taxes and equity in loss of unconsolidated affiliates, and as a result, our earnings were insufficient to cover our fixed charges by $24.8 million and 18.2 million for the nine months ended September 30, 2014 and 2013 and $28 million, $34.7 million, 38.2 million, $29.5 million and $41.6 million for the years ended December 31, 2013 through 2009, respectively.