Attached files
Exhibit 12.1
Ratio of Earnings to Fixed Charges
(in thousands)
Year ended December 31, |
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2011 | 2010 | |||||||
Net loss |
$ | (23,637 | ) | $ | (53,475 | ) | ||
Income taxes |
6,093 | 10,392 | ||||||
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EBIT |
(17,544 | ) | (43,083 | ) | ||||
Fixed charges |
31,971 | 31,010 | ||||||
Less capitalized expenses related to indebtedness |
(3,997 | ) | (3,579 | ) | ||||
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Earnings |
$ | 10,430 | $ | (15,652 | ) | |||
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Interest expense |
27,816 | 27,013 | ||||||
Amortization of debt issuance cost and bond discount |
3,997 | 3,579 | ||||||
Rental expenses representative of an interest factor |
158 | 418 | ||||||
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Fixed Charges |
$ | 31,971 | $ | 31,010 | ||||
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Ratio of Earnings to Fixed Charges (deficiency) (1) |
0.33 | (0.50 | ) |
(1) | Ratio of earnings to fixed charges is computed by dividing earnings by fixed charges. For purposes of this calculation, earnings is income before income taxes plus fixed charges less capitalized interest. Fixed charges is interest expense plus capitalized interest. This calculation is different from the fixed charge coverage ratio as defined in the footnotes to the financial statements. |