QuickLinks -- Click here to rapidly navigate through this document
RATIO OF EARNINGS TO FIXED CHARGES
The following table sets forth our ratio of earnings to fixed charges for each of the periods shown on a combined basis for the Predecessor periods and on a consolidated basis for the Successor periods. For purposes of determining the ratio of earnings to fixed charges, earnings are defined as earnings (loss) from continuing operations before income taxes, plus fixed charges. Fixed charges consist of interest expense on all indebtedness, amortization of debt discount, amortization of debt issuance costs and an interest factor attributable to operating leases.
| | | | | | | | | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CONSOLIDATED | | COMBINED | |||||||||||||||||||||
| ||||||||||||||||||||||||
| | | Period from November 5, 2010 to December 31, 2010 | Period from July 1, 2010 to November 4, 2010 | Year ended June 30, | |||||||||||||||||||
| Year ended December 31, | |||||||||||||||||||||||
| | | | |||||||||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
| (Successor) | (Successor) | (Successor) | | (Predecessor) | (Predecessor) | (Predecessor) | (Predecessor) | ||||||||||||||||
(Loss) earnings before income taxes | $ | (52,841 | ) | $ | (29,373 | ) | $ | (30,366 | ) | $ | 24,852 | $ | 90,302 | $ | 74,186 | $ | 93,611 | |||||||
Add: Fixed charges (from below) | 49,093 | 48,239 | 7,465 | 19 | 71 | 112 | 104 | |||||||||||||||||
(Loss) earnings as defined | $ | (3,856 | ) | $ | 18,866 | $ | (22,901 | ) | $ | 24,871 | $ | 90,373 | $ | 74,298 | $ | 93,715 | ||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | 44,828 | 44,257 | 6,865 | — | — | — | — | |||||||||||||||||
Amortization of debt discount | 2,529 | 2,354 | 352 | — | — | — | — | |||||||||||||||||
Amortization of debt issuance costs | 1,530 | 1,482 | 216 | — | — | — | — | |||||||||||||||||
Estimated interest factor from rental expense | 205 | 146 | 32 | 19 | 71 | 112 | 104 | |||||||||||||||||
Total fixed charges | $ | 49,093 | $ | 48,239 | $ | 7,465 | $ | 19 | $ | 71 | $ | 112 | $ | 104 | ||||||||||
Ratio of earnings to fixed charges(1) | — | — | — | 1,321.9x | 1,281.5x | 661.2x | 901.1x |
- (1)
- The ratio of earnings to fixed charges is computed by dividing earnings (loss) from operations plus fixed charges by fixed charges. Fixed charges consist of interest expense on all indebtedness, amortization of debt discount, amortization of debt issuance costs and that portion of rental payments under operating leases that we believe to be representative of interest. For the years ended December 31, 2012 and 2011, and the period from November 5, 2010 to December 31, 2010, there was a deficiency in the amount of earnings to fixed charges of $52.9 million, $29.4 million, $30.4 million, respectively.
RATIO OF EARNINGS TO FIXED CHARGES