Exhibit 12.1
Statement of Computation of Ratios
| | The Company | | The Predecessor | |
| | Year Ended | | Year Ended | | For the Period September | | For the Period January | | | | | |
| | December 31, | | December 31, | | 28, 2010 through | | 1, 2010 through | | For the Year Ended | |
| | 2012 | | 2011 | | December 31, 2010 | | September 27, 2010 | | 2009 | | 2008 | |
Earnings: | | | | | | | | | | | | | |
Net income (loss) | | $ | 10,716 | | $ | (10,779 | ) | $ | (10,722 | ) | $ | (1,555 | ) | $ | (7,039 | ) | $ | (13,888 | ) |
Add: Fixed charges | | 10,792 | | 10,970 | | 3,443 | | 3,289 | | 4,264 | | 4,464 | |
Add: Amortization of capitalized interest | | 369 | | 277 | | 29 | | 87 | | 63 | | 32 | |
Less: Capitalized interest | | (1,837 | ) | (1,591 | ) | (26 | ) | (524 | ) | (308 | ) | (322 | ) |
Total earnings (loss) | | $ | 20,040 | | $ | (1,123 | ) | $ | (7,276 | ) | $ | 1,297 | | $ | (3,020 | ) | $ | (9,714 | ) |
Fixed charges: | | | | | | | | | | | | | |
Interest expense (including amortization of deferred financing costs and discounts) | | $ | 5,236 | | $ | 5,275 | | $ | 2,325 | | $ | 1,590 | | $ | 2,343 | | $ | 2,495 | |
Capitalized interest | | 1,837 | | 1,591 | | 26 | | 524 | | 308 | | 322 | |
Interest within rental expense | | 3,719 | | 4,104 | | 1,092 | | 1,175 | | 1,613 | | 1,647 | |
Total fixed charges | | 10,792 | | 10,970 | | 3,443 | | 3,289 | | 4,264 | | 4,464 | |
Preferred stock dividend requirements(1) | | 440 | | — | | — | | — | | — | | — | |
Combined fixed charges and preferred stock dividends | | $ | 11,232 | | $ | 10,970 | | $ | 3,443 | | $ | 3,289 | | $ | 4,264 | | $ | 4,464 | |
Ratio of earnings (loss) to combined fixed charges and preferred stock dividends | | 1.78 | | | (2) | | (2) | | (2) | | (2) | | (2) |
(1) The Company and its Predecessor did not have any preferred stock outstanding for the year ended 2011, for the period September 28, 2010 through December, 31, 2010, the period January 1, 2010, through September 27, 2010, for the year ended 2009, and 2008.
(2) The shortfall of earnings (loss) to combined fixed charges and preferred dividends for the year ended December 31, 2011, for the period from September 28, 2010 to December 31, 2010, for the period from January 1, 2010 to September 27, 2010 and for the years ended December 31, 2009 and 2008 was $12.1 million, $10.7 million, $2.0 million, $7.3 million and $14.2 million, respectively.
