Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(in millions, except ratios)
| Predecessor | Successor | |||||||||||||||||||||||||||||||
| For the year ended December 31, | For the three months ended March 31, 2010 | For the five months ended May 31, 2010 | For the seven months ended December 31, 2010 | For the three months ended March 31, 2011 | ||||||||||||||||||||||||||||
| 2006 | 2007 | 2008 | 2009 | |||||||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 54.9 | $ | (181.3 | ) | $ | (1,879.6 | ) | $ | (1,249.2 | ) | $ | 11.0 | $ | 2,195.4 | $ | 71.7 | $ | 63.0 | |||||||||||||
Add: fixed charges (per below) | 92.6 | 221.3 | 235.5 | 228.0 | 45.1 | 74.9 | 8.5 | 9.0 | ||||||||||||||||||||||||
Add: Amortization of capitalized interest | 0.2 | 0.2 | 0.5 | 0.7 | 0.2 | 0.3 | — | — | ||||||||||||||||||||||||
Less: Interest capitalized | 2.5 | 5.9 | 3.4 | 0.7 | 0.1 | 0.2 | 0.1 | 0.1 | ||||||||||||||||||||||||
Less: Net loss attributable to noncontrolling interest | — | — | — | — | — | — | — | (0.1 | ) | |||||||||||||||||||||||
Total earnings (loss) from continuing operations before income taxes | $ | 145.2 | $ | 34.3 | $ | (1,647.0 | ) | $ | (1,021.2 | ) | $ | 56.2 | $ | 2,270.4 | $ | 80.1 | $ | 72.0 | ||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||
Interest expense | $ | 84.9 | $ | 207.0 | $ | 229.1 | $ | 225.4 | $ | 44.6 | $ | 74.0 | $ | 7.4 | $ | 8.5 | ||||||||||||||||
Interest capitalized | 2.5 | 5.9 | 3.4 | 0.7 | 0.1 | 0.2 | 0.1 | 0.1 | ||||||||||||||||||||||||
Portion of rental expense representative of interest | 5.2 | 8.4 | 3.0 | 1.9 | 0.4 | 0.7 | 1.0 | 0.4 | ||||||||||||||||||||||||
Total fixed charges | $ | 92.6 | $ | 221.3 | $ | 235.5 | $ | 228.0 | $ | 45.1 | $ | 74.9 | $ | 8.5 | $ | 9.0 | ||||||||||||||||
Ratio of Earnings to Fixed Charges | 1.6 | x | (a) | (a) | (a) | 1.2 | x | 30.3 | x | 9.4 | x | 8.0 | x | |||||||||||||||||||
| (a) | For the years ended December 31, 2007, 2008 and 2009, earnings were insufficient to cover fixed charges by approximately $187.0, $1,882.5, and $1,249.2, respectively. |