Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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| Years Ended December 31, |
| Nine Months Ended |
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| 2013 (2) |
| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 2014 |
| 2013 (2) |
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| (In thousands, except ratios) |
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Earnings: |
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Income from continuing operations before income taxes |
| $ | (400,841 | ) | $ | (1,164,759 | ) | $ | 494,823 |
| $ | 577,596 |
| $ | 183,994 |
| $ | (417,851 | ) | $ | (317,459 | ) | |
Plus: Fixed charges |
| 230,637 |
| 152,463 |
| 108,594 |
| 22,723 |
| 23,808 |
| 223,257 |
| 163,476 |
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Less: Interest capitalized during the period |
| (1,706 | ) | (7,677 | ) | (5,474 | ) | (1,363 | ) | (1,196 | ) | (378 | ) | (1,280 | ) | ||||||||
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| $ | (171,910 | ) | $ | (1,019,973 | ) | $ | 597,943 |
| $ | 598,956 |
| $ | 206,606 |
| $ | (194,972 | ) | $ | (155,263 | ) | |
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Fixed Charges: |
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Interest expense |
| $ | 222,686 |
| $ | 139,356 |
| $ | 96,820 |
| $ | 17,250 |
| $ | 18,975 |
| $ | 218,195 |
| $ | 158,123 |
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Plus: | Interest capitalized during the period |
| 1,706 |
| 7,677 |
| 5,474 |
| 1,363 |
| 1,196 |
| 378 |
| 1,280 |
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| Interest portion of rental expense |
| 6,245 |
| 5,430 |
| 6,300 |
| 4,110 |
| 3,637 |
| 4,684 |
| 4,073 |
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| $ | 230,637 |
| $ | 152,463 |
| $ | 108,594 |
| $ | 22,723 |
| $ | 23,808 |
| $ | 223,257 |
| $ | 163,476 |
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Ratio of Earnings to Fixed Charges (1) |
| n/a |
| n/a |
| 5.51 |
| 26.36 |
| 8.68 |
| n/a |
| n/a |
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(1) For the years ended December 31, 2013 and 2012, earnings were insufficient to cover fixed charges by approximately $402.5 million and $1,172.4 million, respectively. For the nine months ended September 30, 2014 and 2013, earnings were insufficient to cover fixed charges by approximately $418.2 million and $318.7 million, respectively.
(2) During the second quarter ended June, 30, 2014, the Company corrected the classification of accelerated amortization of debt issuance costs that were recognized upon the extinguishment or partial extinguishment of debt during 2013 to present these amounts as a component of the gain or loss on extinguishment of debt. This reclassification reduced interest expense for the nine months ended September 30, 2013 and the year ended December 31, 2013 by $11.2 million.