EX-12.1 3 a2197224zex-12_1.htm EXHIBIT 12.1

Exhibit 12.1

 

Computation of Ratio of Earnings to Fixed Charges

 

 

 

Year ended December 31,

 

 

 

2009

 

2008

 

2007

 

2006

 

2005

 

Earnings (loss):

 

 

 

 

 

 

 

 

 

 

 

Pretax

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

(15,782

)

$

(102,507

)

$

(81,466

)

$

10,115

 

$

3,317

 

 

 

 

 

 

 

 

 

 

 

 

 

Add: fixed charges

 

$

3,493

 

$

7,848

 

$

4,291

 

$

1,099

 

$

1,477

 

Equity in earnings of unconsolidated sub

 

0

 

0

 

-22

 

401

 

222

 

 

 

 

 

 

 

 

 

 

 

 

 

Less:

 

 

 

 

 

 

 

 

 

 

 

Pref Dividends (grossed-up)

 

0

 

0

 

-162

 

-245

 

-1036

 

Interest capitalized

 

230

 

0

 

0

 

-8

 

-301

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings as defined in Item 503 of Reg. S-K

 

$

(12,059

)

$

(94,659

)

$

(77,359

)

$

11,362

 

$

3,679

 

Fixed Costs:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

3,525

 

7650

 

3940

 

660

 

0

 

cap int

 

-230

 

0

 

0

 

8

 

301

 

Pref Dividends (grossed-up)

 

0

 

0

 

162

 

245

 

1036

 

Interest included in rental expense

 

198

 

198

 

189

 

186

 

140

 

Fixed costs as defined in Item 503 of Reg. S-K

 

$

3,493

 

$

7,848

 

$

4,291

 

$

1,099

 

$

1,477

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed costs

 

N/A

 

N/A

 

N/A

 

13.31

 

8.35

 

Pref Dividends Excluded

 

 

 

 

 

 

 

 

 

 

 

$ value of deficiency

 

$

(15,552

)

$

(102,507

)

$

(81,488

)

N/A

 

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed costs

 

N/A

 

N/A

 

N/A

 

10.34

 

2.49

 

and preference dividends

 

 

 

 

 

 

 

 

 

 

 

$ value of deficiency

 

$

(15,552

)

$

(102,507

)

$

(81,650

)

N/A

 

N/A