Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Years Ended December 31, | ||||||||||||||||||||
| In thousands | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||
| Earnings (loss) before tax: | ||||||||||||||||||||
| Earnings (loss) before tax | $ | 2,151 | $ | (5,922 | ) | $ | (131,810 | ) | $ | (120,370 | ) | $ | (65,377 | ) | ||||||
| Add: Total fixed charges | 1,413 | 1,806 | 2,285 | 3,453 | 6,289 | |||||||||||||||
| Less: Capitalized interest | — | — | — | — | 69 | |||||||||||||||
| Adjusted Earnings | $ | 3,564 | $ | (4,116 | ) | $ | (129,525 | ) | $ | (116,917 | ) | $ | (59,157 | ) | ||||||
| Fixed Charges: | ||||||||||||||||||||
| Interest | $ | 630 | $ | 669 | $ | 808 | $ | 1,382 | $ | 4,028 | ||||||||||
Portion of rental expense representative of the interest factor(1) | 783 | 1,137 | 1,477 | 2,071 | 2,261 | |||||||||||||||
| Total Fixed Charges | $ | 1,413 | $ | 1,806 | $ | 2,285 | $ | 3,453 | $ | 6,289 | ||||||||||
Ratio of Earnings to Fixed Charges(2) | 2.52 | — | (3) | — | (4) | — | (5) | — | (6) | |||||||||||
| (1) | For purposes of calculating fixed charges, an interest factor of one-third was applied to total rental expense. |
| (2) | Adjusted earnings for the years ended December 31, 2011, 2010, 2009 and 2008 were not sufficient to provide for fixed charges. |
| (3) | For purposes of calculating the ratio of earnings to fixed charges, adjusted earnings include non-cash charges for asset impairments of $6,500 and $1,988 related to the withdrawal from a multi-employer pension plan. Excluding the non-cash impairment and pension charges, the adjusted earnings would have been $4,372 and the ratio of earnings to fixed charges would have been 2.42. |
| (4) | For purposes of calculating the ratio of earnings to fixed charges, adjusted earnings include non-cash charges for asset impairments of $3,404 and $132,346 related to the withdrawal from a multi-employer pension plan. |
| (5) | Excluding the non-cash impairment and pension charges, the adjusted earnings would have been $6,225 and the ratio of earnings to fixed charges would have been 2.72. |
| (6) | Adjusted earnings are not sufficient to provide for fixed charges. For purposes of calculating the ratio of earnings to fixed charges, adjusted earnings include a non-cash charge for asset impairments of $106,389. Excluding the non-cash asset impairment charges, the adjusted earnings would be $(10,528) and the ratio of earnings to fixed charges would be (3.05). |