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Content analysis
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Constraining | ||
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H.S. freshman Avg
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Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
|
| Year Ended December 31, |
| |||||||||||||||||
(in thousands) |
|
| 2015 |
|
|
| 2014 |
|
|
| 2013 |
|
|
| 2012 |
|
|
| 2011 |
|
Pre-tax income (loss) from continuing operations before adjustment for income or loss |
| $ | (143,731 | ) |
| $ | (177,731 | ) |
| $ | (213,249 | ) |
| $ | (567,322 | ) |
| $ | (139,272 | ) |
from equity investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add: Fixed charges |
|
| 243,862 |
|
|
| 244,077 |
|
|
| 225,551 |
|
|
| 222,058 |
|
|
| 134,026 |
|
Less: Non-controlling interest in pre-tax income |
|
| (891 | ) |
|
| (830 | ) |
|
| (1,156 | ) |
|
| (1,358 | ) |
|
| (1,269 | ) |
Total earnings |
| $ | 99,240 |
|
| $ | 65,516 |
|
| $ | 11,146 |
|
| $ | (346,622 | ) |
| $ | (6,515 | ) |
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
| $ | 228,287 |
|
| $ | 217,473 |
|
| $ | 209,350 |
|
| $ | 185,871 |
|
| $ | 123,545 |
|
Write-off of deferred financing costs |
|
| — |
|
|
| 10,062 |
|
|
| 818 |
|
|
| 18,580 |
|
|
| 2,684 |
|
Estimated interest portion within rental expense |
|
| 15,575 |
|
|
| 16,542 |
|
|
| 15,383 |
|
|
| 17,607 |
|
|
| 7,797 |
|
Total fixed charges |
| $ | 243,862 |
|
| $ | 244,077 |
|
| $ | 225,551 |
|
| $ | 222,058 |
|
| $ | 134,026 |
|
Ration of earnings to fixed charges(1) |
|
| — |
|
|
| — |
|
|
| — |
|
|
| — |
|
|
| — |
|
(1) | Earnings were insufficient to cover fixed charges by $144.6 million, $178.6 million, $214.4 million, $568.7 million and $140.5 million, respectively, for the years ended December 31, 2015, 2014, 2013, 2012 and 2011. |