Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
| Six Months Ended | Nine-Month Transition Period Ended | |||||||||||||||||||||||
| June 30, | Year Ended December 31, | December 31, | ||||||||||||||||||||||
| (in thousands) | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 13,992 | $ | 34,452 | $ | 34,196 | $ | 24,668 | $ | 18,049 | $ | 3,933 | ||||||||||||
Capitalized interest | — | 285 | — | — | — | 6,000 | ||||||||||||||||||
Amortization of debt issuance costs | 1,841 | 3,069 | 2,449 | 1,476 | 778 | 186 | ||||||||||||||||||
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Total fixed charges | $ | 15,833 | $ | 37,806 | $ | 36,645 | $ | 26,144 | $ | 18,827 | $ | 10,119 | ||||||||||||
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Earnings available for fixed charges | ||||||||||||||||||||||||
Income before income taxes | $ | 14,406 | $ | 25,156 | $ | 61,899 | $ | 66,051 | $ | 20,245 | $ | (8,049 | ) | |||||||||||
Add: Fixed charges | 15,833 | 37,806 | 36,645 | 26,144 | 18,827 | 10,119 | ||||||||||||||||||
Less: Capitalized interest | — | (285 | ) | — | — | — | (6,000 | ) | ||||||||||||||||
Less: Net (income) loss attributable to noncontrolling interests | — | 16 | 205 | (150 | ) | (364 | ) | 1,152 | ||||||||||||||||
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Total earnings available for fixed charges | $ | 30,239 | $ | 62,693 | $ | 98,749 | $ | 92,045 | $ | 38,708 | $ | (2,778 | ) | |||||||||||
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Ratio of earnings to fixed charges | 1.91 | 1.66 | 2.69 | 3.52 | 2.06 | * | ||||||||||||||||||
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| * | Earnings for the nine months ended December 31, 2008 were inadequate to cover fixed charges. |
