Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
($ in thousands)
|
| Six Months Ended |
| Year Ended |
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| June 30, |
| December 31, |
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| 2013 |
| 2012 |
| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
|
Pre-tax loss from continuing operations |
| (82,928 | ) | (21,742 | ) | (33,459 | ) | (37,593 | ) | (74,151 | ) | 4,928 |
| 21,367 |
|
Add: |
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Fixed Charges |
| 32,424 |
| 32,299 |
| 67,098 |
| 58,953 |
| 52,366 |
| 48,794 |
| 33,459 |
|
Total adjusted earnings (loss) available for payment of fixed charges |
| (50,504 | ) | 10,557 |
| 33,639 |
| 21,360 |
| (21,785 | ) | 53,722 |
| 54,826 |
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Fixed Charges: |
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Interest expense |
| 16,308 |
| 14,570 |
| 31,298 |
| 24,143 |
| 17,755 |
| 14,914 |
| 12,891 |
|
Amortization of debt discount and deferred financing costs |
| 3,126 |
| 5,250 |
| 10,261 |
| 9,024 |
| 5,997 |
| 7,713 |
| 1,030 |
|
Portion of rental expense representing interest |
| 12,990 |
| 12,479 |
| 25,539 |
| 25,786 |
| 28,614 |
| 26,167 |
| 19,538 |
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Total Fixed Charges |
| 32,424 |
| 32,299 |
| 67,098 |
| 58,953 |
| 52,366 |
| 48,794 |
| 33,459 |
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Ratio of Earnings to Fixed Charges |
| (a) |
| (a) |
| (a) |
| (a) |
| (a) |
| 1.1 |
| 1.6 |
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(a) Earnings were insufficient to cover fixed charges by $82.9 million, $21.7 million, $33.5 million, $37.6 million, and $74.2 million for the six months ended June 30, 2013 and 2012, and the years ended December 31, 2012, 2011 and 2010, respectively.
