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Computation of Ratios of Earnings to Fixed Charges
(Amounts in thousands)
| | Year ended December 31, 2010 | Year ended December 31, 2009 | Year ended December 31, 2008 | Year ended December 31, 2007 | Year ended December 31, 2006 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earnings (loss): | ||||||||||||||||
Income (loss) before equity in income of unconsolidated affiliate and income tax expense | $ | 371,766 | $ | 77,220 | $ | (1,077,601 | ) | $ | 205,000 | $ | 120,868 | |||||
Add: Fixed charges from below | 156,852 | 289,374 | 564,614 | 617,504 | 430,384 | |||||||||||
Total earnings (loss) before equity in income of unconsolidated affiliate, income tax expense and fixed charges | $ | 528,618 | $ | 366,594 | $ | (512,987 | ) | $ | 822,504 | $ | 551,252 | |||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 156,852 | $ | 289,374 | $ | 564,614 | $ | 617,504 | $ | 430,384 | ||||||
Total fixed charges | $ | 156,852 | $ | 289,374 | $ | 564,614 | $ | 617,504 | $ | 430,384 | ||||||
Ratio of earnings to fixed charges | 3.4x | 1.3x | * | 1.3x | 1.3x | |||||||||||
- *
- 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.
Computation of Ratios of Earnings to Fixed Charges (Amounts in thousands)