Exhibit 12.1
Statement Regarding Computation of Ratios
(In thousands)
Year Ended December 31, | ||||||||||||||||||||
2005 | 2006 | 2007 | 2008 | 2009 | ||||||||||||||||
Earnings: | ||||||||||||||||||||
Consolidated loss before income taxes | $ | (67,901 | ) | $ | (86,248 | ) | $ | (143,166 | ) | $ | (237,293 | ) | $ | (153,899 | ) | |||||
Add: Fixed charges | 2,163 | 2,111 | 3,959 | 6,686 | 19,018 | |||||||||||||||
Amortization of capitalized interest | — | — | — | 6 | 43 | |||||||||||||||
Less: Capitalized interest | — | — | — | (860 | ) | — | ||||||||||||||
Earnings as defined | $ | (65,738 | ) | $ | (84,137 | ) | $ | (139,207 | ) | $ | (231,461 | ) | $ | (134,838 | ) | |||||
Fixed Charges: | ||||||||||||||||||||
Interest Expense | $ | 1,613 | $ | 1,612 | $ | 3,520 | $ | 6,313 | $ | 18,718 | ||||||||||
Estimated interest component of rent expense | 550 | 499 | 439 | 373 | 300 | |||||||||||||||
Total fixed charges | $ | 2,163 | $ | 2,111 | $ | 3,959 | $ | 6,686 | $ | 19,018 | ||||||||||
Ratio of earnings to fixed charges (1) | — | — | — | — | — | |||||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (67,901 | ) | $ | (86,248 | ) | $ | (143,166 | ) | $ | (238,147 | ) | $ | (153,856 | ) | |||||
Combined fixed charges and preferred stock dividends: | ||||||||||||||||||||
Fixed charges | $ | 2,163 | $ | 2,111 | $ | 3,959 | $ | 6,686 | $ | 19,018 | ||||||||||
Preferred stock dividend requirements of the registrant | 9,185 | 2,031 | 2,114 | 1,912 | — | |||||||||||||||
Total combined fixed charges and preferred stock dividends | $ | 11,348 | $ | 4,142 | $ | 6,073 | $ | 8,598 | $ | 19,018 | ||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends (1) | — | — | — | — | — | |||||||||||||||
Deficiency of earnings available to cover combined fixed charges | ||||||||||||||||||||
and preferred stock dividends | $ | (77,086 | ) | $ | (88,279 | ) | $ | (145,280 | ) | $ | (240,059 | ) | $ | (153,856 | ) | |||||
(1) | Earnings were insufficient to cover total fixed charges and total combined fixed charges and preferred stock dividends. |