Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
Predecessor | Successor | Predecessor | Successor | |||||||||||||||||||||||||||||||
Year Ended December 31, | Unaudited | Unaudited | ||||||||||||||||||||||||||||||||
January 1 through November 1, 2011 | November 2 through December 31, 2011 | Six Months Ended June 30, | ||||||||||||||||||||||||||||||||
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | |||||||||||||||||||||||||||||
Consolidated pretax income from continuing operations | $ | 35,377 | $ | 20,500 | $ | 31,304 | $ | 65,746 | $ | (11,381 | ) | $ | (26,878 | ) | $ | 29,598 | $ | (80,199 | ) | |||||||||||||||
Interest | 71,587 | 61,764 | 58,298 | 48,119 | 31,541 | 37,600 | 18,336 | 83,573 | ||||||||||||||||||||||||||
Net amortization of debt discount and premium and issuance expense | 2,738 | 9,953 | 11,948 | 12,911 | 11,673 | 1,642 | 6,945 | 5,073 | ||||||||||||||||||||||||||
Interest portion of rental expense | 2,816 | 3,192 | 2,692 | 2,869 | 2,689 | 577 | 1,585 | 1,757 | ||||||||||||||||||||||||||
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Earnings | $ | 112,518 | $ | 95,409 | $ | 104,242 | $ | 129,645 | $ | 34,522 | $ | 12,941 | $ | 56,464 | $ | 10,204 | ||||||||||||||||||
Interest | 71,587 | 61,764 | 58,298 | 48,119 | 31,541 | 37,600 | 18,336 | 83,573 | ||||||||||||||||||||||||||
Net amortization of debt discount and premium and issuance expense | 2,738 | 9,953 | 11,948 | 12,911 | 11,673 | 1,642 | 6,945 | 5,073 | ||||||||||||||||||||||||||
Interest portion of rental expense | 2,816 | 3,192 | 2,692 | 2,869 | 2,689 | 577 | 1,585 | 1,757 | ||||||||||||||||||||||||||
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Fixed Charges | $ | 77,141 | $ | 74,909 | $ | 72,938 | $ | 63,899 | $ | 45,903 | $ | 39,819 | $ | 26,866 | $ | 90,403 | ||||||||||||||||||
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Ratio of Earnings to Fixed(1)Charges | 1.46x | 1.27x | 1.43x | 2.03x | — | — | 2.10x | — | ||||||||||||||||||||||||||
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(1) | Earnings were inadequate to cover fixed charges for the periods from January 1, 2011 to November 1, 2011, November 2, 2011 to December 31, 2011 and the six months ended June 30, 2012 by $11,381, $26,878 and $80,199, respectively. |