Exhibit 12.1
STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
(Unaudited)
For the | For the | ||||||
Year Ended | Year Ended | ||||||
December 31, | December 31, | ||||||
2011 | 2012 | ||||||
Earnings: | |||||||
Pretax loss from continuing operations | $ | (10.9 | ) | $ | (29.5 | ) | |
Add: | |||||||
Fixed charges | 19.0 | 20.1 | |||||
Pretax income (loss) from continuing operations adjusted for fixed charges | 8.1 | (9.4 | ) | ||||
Fixed Charges: | |||||||
Interest expensed and capitalized | 11.1 | 11.3 | |||||
Amortization of discount and capitalized expenses related to indebtedness | 3.7 | 4.2 | |||||
Estimate of interest within rental expense (a) | 4.2 | 4.6 | |||||
Total Fixed Charges | 19.0 | 20.1 | |||||
Ratio of Earnings to Fixed Charges (b) | — | — | |||||
(a) One third of rent expense is deemed to be representative of interest. | |||||||
(b) Our earnings were insufficient to cover fixed charges by $10.9 million and $29.5 million for the years ended December 31, 2011 and 2012, respectively. |