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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(unaudited)
(in thousands, except ratio) | Three months ended March 31, 2013 | Year ended December 31, 2012 | Year ended December 31, 2011 | For the period from Inception to December 31, 2010 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Earnings: | |||||||||||||
Net income (loss) | $ | 39,996 | $ | 131,919 | $ | 53,232 | $ | (52,040 | ) | ||||
Add: | |||||||||||||
Provision (benefit) for income taxes | 21,676 | 72,054 | 29,609 | (8,875 | ) | ||||||||
Fixed charges | 52,562 | 167,638 | 68,797 | 53,673 | |||||||||
Less: | |||||||||||||
Capitalized interest | (6,899 | ) | (19,388 | ) | (10,390 | ) | (1,769 | ) | |||||
Earnings as adjusted (A) | $ | 107,335 | $ | 352,223 | $ | 141,248 | $ | (9,011 | ) | ||||
Fixed charges | |||||||||||||
Interest expense | $ | 45,440 | $ | 147,413 | $ | 57,692 | $ | 51,743 | |||||
Capitalized interest | 6,899 | 19,388 | 10,390 | 1,769 | |||||||||
Interest factors of rents(1) | 223 | 837 | 715 | 161 | |||||||||
Fixed charges as adjusted (B) | $ | 52,562 | $ | 167,638 | $ | 68,797 | $ | 53,673 | |||||
Ratio of earnings (loss) to fixed charges ((A) divided by (B))(2) | 2.04 | 2.10 | 2.05 | — |
- (1)
- Estimated to be1/3 of rent expense.
- (2)
- For the period from inception to December 31, 2010, earnings were insufficient to cover fixed charges by $62.7 million.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (unaudited)