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Computation of Ratios of Earnings to Fixed Charges
(amounts in thousands)
| Year ended December 31, 2009 | Year ended December 31, 2008* | Year ended December 31, 2007* | Year ended December 31, 2006* | Year ended December 31, 2005* | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earnings (loss): | ||||||||||||||||
Income (loss) before equity in income of unconsolidated affiliate and income tax expense | $ | 77,220 | $ | (1,077,601 | ) | $ | 205,000 | $ | 120,868 | $ | 69,777 | |||||
Add: Fixed charges from below | 289,374 | 564,614 | 617,504 | 430,384 | 107,792 | |||||||||||
Total earnings (loss) before equity in income of unconsolidated affiliate, income tax expense and fixed charges | $ | 366,594 | $ | (512,987 | ) | $ | 822,504 | $ | 551,252 | $ | 177,569 | |||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 289,374 | $ | 564,614 | $ | 617,504 | $ | 430,384 | $ | 107,792 | ||||||
Total fixed charges | $ | 289,374 | $ | 564,614 | $ | 617,504 | $ | 430,384 | $ | 107,792 | ||||||
Ratio of earnings to fixed charges | 1.3x | ** | 1.3x | 1.3x | 1.6x |
- *
- Certain prior period information has been reclassified to conform to the current year's presentation.
- **
- Losses exceeded fixed charges by approximately $513.0 million for the year ended December 31, 2008. The coverage deficiency for total fixed charges for the year ended December 31, 2008 was $1,077.6 million to arrive at a one-to-one ratio.