Exhibit 12.1
Calculation of Ratios of Earnings to Fixed Charges
| Year Ended December 31, | ||||||||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES: | ||||||||||||||||||||
Pre-tax (loss) income from continuing operations before adjustment for income from equity investee | (109,039 | ) | (164,284 | ) | (1,056,850 | ) | 52,260 | (37,042 | ) | |||||||||||
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Fixed charges: | ||||||||||||||||||||
Interest expense (a) | 217,325 | 203,971 | 139,435 | 106,798 | 101,132 | |||||||||||||||
Interest portion of rent expense (b) | 12,791 | 10,585 | 9,747 | 9,316 | 8,555 | |||||||||||||||
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Total fixed charges | 230,116 | 214,556 | 149,182 | 116,114 | 109,687 | |||||||||||||||
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Total earnings (loss) | 121,077 | 50,273 | (907,668 | ) | 168,374 | 72,645 | ||||||||||||||
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Ratio of earnings to fixed charges | .5x | .2x | — | 1.4x | 0.7x | |||||||||||||||
Ratio of coverage deficiency | (c | ) | (c | ) | (c | ) | (c | ) | ||||||||||||
| (a) | Interest expense includes the write-off and amortization of deferred financing costs and the write-off and amortization of non-cash discounts associated with our debt issuances. |
| (b) | Includes approximately one-fourth of the rent expense for each period presented which management believes is a reasonable approximation of the interest componenet of such rentals. |
| (c) | Due to the loss from continuing operations for the year ended December 31, 2012, 2011, 2010 and 2008, there were insufficient earnings of $109.0 million, $164.3 million, $1.1 billion and $37.0 million, respectively, to cover fixed charges. |