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Statement of Computation of Ratio of Earnings to Fixed Charges
The following table sets forth our ratio of earnings to fixed charges on a historical basis for the periods indicated. The ratios are calculated by dividing earnings by the fixed charges. For the purposes of computing ratio of earnings to fixed charges, earnings consist of loss before income taxes plus fixed charges. Fixed charges consist of interest charges and that portion of rental payments under operating leases we believe to be representative of interest.
| Year Ended December 31, | Nine Months Ended September 30, 2012 | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2007 | 2008 | 2009 | 2010 | 2011 | ||||||||||||||
| (in thousands) | ||||||||||||||||||
Earnings: | |||||||||||||||||||
Loss before income taxes | $ | (159,997 | ) | $ | (93,643 | ) | $ | (85,302 | ) | $ | (83,862 | ) | $ | (115,344 | ) | $ | 12,782 | ||
Add: Fixed charges | 379 | 5,963 | 6,362 | 6,320 | 6,295 | 4,678 | |||||||||||||
Total Earnings | $ | (159,618 | ) | $ | (87,680 | ) | $ | (78,940 | ) | $ | (77,542 | ) | $ | (109,049 | ) | $ | 17,460 | ||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 93 | $ | 5,681 | $ | 6,052 | $ | 6,044 | $ | 6,022 | $ | 4,503 | |||||||
Estimated interest component of rent expense | 286 | 282 | 310 | 276 | 273 | 175 | |||||||||||||
Total fixed charges | $ | 379 | $ | 5,963 | $ | 6,362 | $ | 6,320 | $ | 6,295 | $ | 4,678 | |||||||
Ratio of earnings to fixed charges | (1 | ) | (1 | ) | (1 | ) | (1 | ) | (1 | ) | 3.73 | ||||||||
- (1)
- For the years ended December 31, 2007, 2008, 2009, 2010, and 2011, earnings available for fixed charges were insufficient to cover fixed charges by $160.0 million, $93.6 million, $85.3 million, $83.9 million, and $115.3 million, respectively.
Statement of Computation of Ratio of Earnings to Fixed Charges