Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Successor | Predecessor | |||||||||||||||||||||||||||
For the Three |
Year Ended December 31, | August 4, 2010 through December 31, 2010 | January 1, 2010 through August 3, 2010 | |||||||||||||||||||||||||
(in thousands) | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||||||||||
Pre-tax income (loss) from continuing operations before adjustment for income or loss from equity investments | $ | (38,905 | ) | $ | (177,731 | ) | $ | (213,249 | ) | $ | (567,322 | ) | $ | (139,272 | ) | $ | (14,141 | ) | $ | 16,054 | ||||||||
Add: Fixed charges | 60,518 | 244,077 | 225,551 | 222,058 | 134,026 | 33,283 | 18,132 | |||||||||||||||||||||
Less: Non-controlling interest in pre-tax income | (123 | ) | (830 | ) | (1,156 | ) | (1,358 | ) | (1,269 | ) | (390 | ) | (775 | ) | ||||||||||||||
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Total earnings | $ | 21,490 | $ | 65,516 | $ | 11,146 | $ | (346,622 | ) | $ | (6,515 | ) | $ | 18,752 | $ | 33,411 | ||||||||||||
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Fixed Charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 56,479 | $ | 217,473 | $ | 209,350 | $ | 185,871 | $ | 123,545 | $ | 31,109 | $ | 14,693 | ||||||||||||||
Write-off of deferred financing costs | — | 10,062 | 818 | 18,580 | 2,684 | — | — | |||||||||||||||||||||
Estimated interest portion within rental expense | 4,039 | 16,542 | 15,383 | 17,607 | 7,797 | 2,174 | 3,439 | |||||||||||||||||||||
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Total fixed charges | $ | 60,518 | $ | 244,077 | $ | 225,551 | $ | 222,058 | $ | 134,026 | $ | 33,283 | $ | 18,132 | ||||||||||||||
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Ratio of earnings to fixed charges(1) | — | — | — | — | — | — | 1.8x | |||||||||||||||||||||
| (1) | Earnings were insufficient to cover fixed charges by $178.6 million, $214.4 million, $568.7 million, $140.5 million, and $14.5 million, respectively, for the years ended December 31, 2014, 2013, 2012, 2011 and for the period from August 4, 2010 through December 31, 2010. For the three months ended March 31, 2015, our earnings were insufficient to cover our fixed charges by $39.0 million. |