Exhibit 12.1
Computation of Ratios of Earnings to Fixed Charges
(In thousands) (unaudited)
(In thousands) (unaudited)
Nine months ended | ||||||||||||||||||||||||||||
Year Ended December 31, | September 30, | |||||||||||||||||||||||||||
2005 | 2006 | 2007 | 2008 | 2009 | 2009 | 2010 | ||||||||||||||||||||||
Earnings | ||||||||||||||||||||||||||||
(Loss) income before income taxes and noncontrolling interests | $ | (25,705 | ) | $ | (28,580 | ) | $ | 8,991 | $ | (74,149 | ) | $ | (26,038 | ) | $ | (29,452 | ) | $ | 74,092 | |||||||||
Plus: | ||||||||||||||||||||||||||||
Equity loss (earnings) | 4,100 | (1,986 | ) | — | — | — | — | — | ||||||||||||||||||||
Fixed charges | 17,521 | 50,354 | 70,791 | 73,105 | 70,070 | 54,635 | 35,796 | |||||||||||||||||||||
Capitalized interest | (211 | ) | (1,740 | ) | (363 | ) | — | — | — | — | ||||||||||||||||||
Noncontrolling interests | (34 | ) | 66 | — | — | — | — | — | ||||||||||||||||||||
Total earnings | $ | (4,329 | ) | $ | 18,114 | $ | 79,419 | $ | (1,044 | ) | $ | 44,032 | $ | 25,183 | $ | 109,888 | ||||||||||||
Fixed Charges | ||||||||||||||||||||||||||||
Interest Expense | $ | 15,255 | $ | 46,594 | $ | 65,888 | $ | 69,720 | $ | 66,705 | $ | 52,162 | $ | 33,243 | ||||||||||||||
Capitalized Interest | 211 | 1,740 | 363 | — | — | — | — | |||||||||||||||||||||
Rental expense representative of interest factor | 2,055 | 2,020 | 4,540 | 3,385 | 3,365 | 2,473 | 2,553 | |||||||||||||||||||||
Total fixed charges | $ | 17,521 | $ | 50,354 | $ | 70,791 | $ | 73,105 | $ | 70,070 | $ | 54,635 | $ | 35,796 | ||||||||||||||
Ratio of earnings to fixed charges | — | — | 1.1 | — | — | — | 3.1 | |||||||||||||||||||||
Deficiency | $ | 21,850 | $ | 32,240 | $ | 74,149 | $ | 26,038 | $ | 29,452 |