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Computation of Ratios of Earnings to Fixed Charges
(amounts in thousands)
| Year ended December 31, 2008 | Year ended December 31, 2007(1) | Year ended December 31, 2006(1) | Year ended December 31, 2005(1) | Period from August 12, 2004 (Inception) through December 31, 2004(1) | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
(Loss) earnings: | ||||||||||||||||
(Loss) income before equity in income of unconsolidated affiliate and income tax expense | $ | (1,077,601 | ) | $ | 205,000 | $ | 120,868 | $ | 69,777 | $ | (8,024 | ) | ||||
Add: Fixed charges from below | 564,614 | 617,504 | 430,384 | 107,792 | 21 | |||||||||||
Total (loss) earnings before equity in income of unconsolidated affiliate, income tax expense and fixed charges | $ | (512,987 | ) | $ | 822,504 | $ | 551,252 | $ | 177,569 | $ | (8,003 | ) | ||||
Fixed charges: | ||||||||||||||||
Interest expense(2) | $ | 564,614 | $ | 617,504 | $ | 430,384 | $ | 107,792 | $ | 21 | ||||||
Total fixed charges | $ | 564,614 | $ | 617,504 | $ | 430,384 | $ | 107,792 | $ | 21 | ||||||
Ratio of earnings to fixed charges | (3) | 1.3x | 1.3x | 1.6x | (4) |
- (1)
- Certain prior period information has been reclassified to conform to the current year's presentation.
- (2)
- Includes amortization of capitalized expenses relating to indebtedness.
- (3)
- Losses exceeded fixed charges by approximately $513.0 million for the year ended December 31, 2008.
- (4)
- Losses exceeded fixed charges by approximately $8.0 million for the period from August 12, 2004 (the date of inception) through December 31, 2004.
Computation of Ratios of Earnings to Fixed Charges (amounts in thousands)