Exhibit 12.1
COMPUTATION OF EARNINGS TO FIXED CHARGES
Pre-predecessor | Predecessor | Successor | ||||||||||||||||||||||||||||
For | For | |||||||||||||||||||||||||||||
As of and | As of and | the period from | the period | Period from | Period from | |||||||||||||||||||||||||
for the year | for the year | January 1, | from August | January 1, | May 18, 2007 | For the year | ||||||||||||||||||||||||
ended | ended | 2006 to | 15, 2006 to | 2007 | to | ended | ||||||||||||||||||||||||
December 31, | December 31, | August 15, | December 31, | to May 17, | December 31, | December 31, | ||||||||||||||||||||||||
2004 | 2005 | 2006 | 2006 | 2007 | 2007 | 2008 | ||||||||||||||||||||||||
(in millions) | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||
Computation of Earnings: | ||||||||||||||||||||||||||||||
Income (loss) before tax expense | 145.5 | 60.1 | 110.6 | 65.6 | 27.9 | 13.3 | (107.0 | ) | ||||||||||||||||||||||
Net interest expense | 27.3 | 28.5 | 12.7 | 6.3 | 6.3 | 67.2 | 89.2 | |||||||||||||||||||||||
Interest portion of operating lease expenses | 0.7 | 0.9 | 0.4 | 0.7 | 0.2 | 0.9 | 0.9 | |||||||||||||||||||||||
Earnings | 173.5 | 89.5 | 123.7 | 72.6 | 34.4 | 81.4 | (16.9 | ) | ||||||||||||||||||||||
Computation of Fixed Charges: | ||||||||||||||||||||||||||||||
Net interest expense | 27.3 | 28.5 | 12.7 | 6.3 | 6.3 | 67.2 | 89.2 | |||||||||||||||||||||||
Capitalized interest | — | — | — | — | — | — | — | |||||||||||||||||||||||
Interest portion of operating lease expenses | 0.7 | 0.9 | 0.4 | 0.7 | 0.2 | 0.9 | 0.9 | |||||||||||||||||||||||
Fixed charges | 28.0 | 29.4 | 13.1 | 7.0 | 6.5 | 68.1 | 90.1 | |||||||||||||||||||||||
Ratio of earnings to fixed charges:(1) | 6.2 | 3.0 | 9.4 | 10.4 | 5.3 | 1.2 | — | |||||||||||||||||||||||
(1) For purposes of computing the ratio of earnings to fixed charges, earnings consist of income (loss) before income tax expense plus fixed charges. Fixed charges consist of interest expense, amortization of deferred financing fees and a portion of rental expense that management believes is representative of the interest component of rental expense. For the year ended December 31, 2008, fixed charges exceeded earnings by $107.0 million.