Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)
Successor | Predecessor | |||||||||||
Three-month period ended March 31, | Three-month period ended March 31, | |||||||||||
2011 | 2010 | |||||||||||
Earnings: | ||||||||||||
Income (loss) from continuing operations before income taxes | $ | (5,275 | ) | $ | 21,096 | |||||||
Less: Earnings from equity method investments | — | (1,144 | ) | |||||||||
Plus: Dividends from equity method investees | — | — | ||||||||||
Fixed charges | 14,805 | 721 | ||||||||||
Earnings adjusted for fixed charges | $ | 9,530 | $ | 20,673 | ||||||||
Fixed charges: | ||||||||||||
Interest expense | $ | 14,122 | $ | 36 | ||||||||
Interest component of rent | 683 | 685 | ||||||||||
Total fixed charges | $ | 14,805 | $ | 721 | ||||||||
Ratio of earnings to fixed charges | (2) | 28.67 | ||||||||||
(1) | One-third of rent expense is deemed to be representative of interest. |
(2) | Our earnings were insufficient to cover fixed charges by $5.3 million for the three month period ended March 31, 2011. |