Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
|
|
|
|
|
|
|
|
|
|
|
| Quarter Ended |
| ||||||
|
| Year Ended September 30, |
| December 31, |
| ||||||||||||||
(dollars in thousands) |
| 2009 |
| 2010 |
| 2011 |
| 2012 |
| 2013 |
| 2013 |
| ||||||
Fixed Charges Computation |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest expensed and capitalized (1) |
| $ | 33,961 |
| $ | 55,908 |
| $ | 106,557 |
| $ | 38,809 |
| $ | 37,100 |
| $ | 9,609 |
|
Amortized premiums, discounts, and capitalized expenses related to indebtedness |
| 13,459 |
| 16,027 |
| 20,069 |
| 14,184 |
| 5,841 |
| 569 |
| ||||||
Reasonable approximation of interest within rental expense |
| 3,377 |
| 3,670 |
| 3,323 |
| 3,106 |
| 3,454 |
| 860 |
| ||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Total Fixed Charges and Preferred Equity Dividends |
| $ | 50,797 |
| $ | 75,605 |
| $ | 129,949 |
| $ | 56,099 |
| $ | 46,395 |
| $ | 11,038 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Earnings Computation |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
| $ | (491,730 | ) | $ | (46,390 | ) | $ | (138,093 | ) | $ | (16,454 | ) | $ | 12,209 |
| $ | (2,435 | ) |
Plus |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Fixed charges |
| 50,797 |
| 75,605 |
| 129,949 |
| 56,099 |
| 46,395 |
| 11,038 |
| ||||||
Minus |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Interest capitalized |
| 1,396 |
| 441 |
| 91 |
| 137 |
| 192 |
| 75 |
| ||||||
Total Earnings |
| $ | (442,329 | ) | $ | 28,774 |
| $ | (8,235 | ) | $ | 39,508 |
| $ | 58,412 |
| $ | 8,528 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
| N/A | * | 0.38 |
| N/A | * | 0.70 |
| 1.26 |
| 0.77 |
| ||||||
* Total earnings for these periods were less than zero dollars. The deficiency of earnings to fixed charges for the years ended September 30, 2009 and 2011 were $493.1 million and $138.2 million, respectively.
(1) Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense.