Exhibit 12
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||
Period Ended | ||||||||||||||||||||||||
June 30, | Year Ended December 31, | |||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | ||||||||||||||||||
Pretax income (loss) from continuing operations (1) | $ | (20,947 | ) | $ | 37,446 | $ | 38,849 | $ | 77,880 | $ | 46,110 | $ | 32,737 | |||||||||||
Fixed charges | ||||||||||||||||||||||||
Interest expensed | 3,814 | 2,177 | 1,719 | 1,778 | 1,797 | 3,032 | ||||||||||||||||||
Debt issuance cost | 2,531 | 67 | 135 | 113 | 159 | 54 | ||||||||||||||||||
Total fixed charges (2) | 6,345 | 2,244 | 1,854 | 1,891 | 1,956 | 3,086 | ||||||||||||||||||
Noncontrolling interest in pretax income (3) | - | 5,381 | 6,906 | 4,514 | 4,599 | 724 | ||||||||||||||||||
Capitalized interest (4) | 1,050 | 2,171 | 1,713 | 1,796 | 1,790 | 3,023 | ||||||||||||||||||
Earnings ((1) + (2) -(3) -(4)) | (15,652 | ) | 32,138 | 32,084 | 73,461 | 41,677 | 32,076 | |||||||||||||||||
Fixed charges | 6,345 | 2,244 | 1,854 | 1,891 | 1,956 | 3,086 | ||||||||||||||||||
Ratio of earnings to fixed charges | (2.5 | ) | 14.3 | 17.3 | 38.8 | 21.3 | 10.4 |