Exhibit 12.1
| COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES | ||||||||||||||||||||||||||||
| Predecessor | Successor | |||||||||||||||||||||||||||
| January 1 | June 17 | Nine Months | ||||||||||||||||||||||||||
| Year Ended | through | through | Year Ended | Ended | ||||||||||||||||||||||||
| December 31, | June 16, | December 31, | December 31, | September 30, | ||||||||||||||||||||||||
(in millions) | 2008 | 2009 | 2010 | 2010 | 2011 | 2012 | 2013 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Income (loss) before income taxes | $ | 3.6 | $ | 153.8 | $ | 126.5 | $ | 1.1 | $ | (36.1 | ) | $ | 47.9 | $ | (24.8 | ) | ||||||||||||
Adjustment for companies accounted for by the equity method | 10.8 | 13.7 | 3.3 | (12.6 | ) | (6.7 | ) | (6.2 | ) | (18.4 | ) | |||||||||||||||||
Less: Capitalized interest | — | — | — | (0.3 | ) | (1.7 | ) | (6.2 | ) | (2.4 | ) | |||||||||||||||||
Add: Amortization of capitalized interest | — | — | — | 0.0 | 0.1 | 0.5 | 0.9 | |||||||||||||||||||||
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| 14.4 | 167.5 | 129.8 | (11.8 | ) | (44.4 | ) | 36.0 | (44.6 | ) | |||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||
Interest and debt expense | — | — | — | 47.6 | 112.8 | 110.3 | 99.3 | |||||||||||||||||||||
Capitalized interest | — | — | — | 0.3 | 1.7 | 6.2 | 2.4 | |||||||||||||||||||||
Rental expense representative of interest factor | 0.8 | 0.7 | 0.3 | 0.7 | 1.6 | 1.8 | 1.2 | |||||||||||||||||||||
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| 0.8 | 0.7 | 0.3 | 48.6 | 116.1 | 118.3 | 102.9 | ||||||||||||||||||||||
Total adjusted earnings available for payment of fixed charges | $ | 15.2 | $ | 168.2 | $ | 130.1 | $ | 36.8 | $ | 71.7 | $ | 154.3 | $ | 58.3 | ||||||||||||||
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Ratio of Earnings to Fixed Charges | 18.4 | 225.0 | 377.1 | (a | ) | (a | ) | 1.3 | (a | ) | ||||||||||||||||||
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| (a) | Due to net losses in the period from June 17 through December 31, 2010, the year ended December 31, 2011, and the nine months ended September 30, 2013, the ratio of earnings to fixed charges was less than 1. Our earnings were insufficient to cover fixed charges requirements by $11.8 million, $44.4 million, and $44.6 million for the period from June 17, 2010 through December 31, 2010, for the year ended December 31, 2011, and for the nine months ended September 30, 2013, respectively. |