Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Successor | Predecessor | |||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2016 | 2015 | 2014 | 2013 | Period from November 17, through December 31, 2012 | Period from January 1, through November 16, 2012 | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 197,965 | $ | 161,339 | $ | 147,511 | $ | 114,476 | $ | 12,645 | $ | 106,620 | ||||||||||||
Capitalized interest | 5,318 | 5,047 | 3,624 | 2,028 | 217 | 1,649 | ||||||||||||||||||
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Portion of rental expense which represents interest factor (1) | 203,283 | 166,386 | 151,135 | 116,504 | 12,862 | 108,269 | ||||||||||||||||||
Total Fixed Charges | ||||||||||||||||||||||||
Earnings Available for Fixed Charges: | ||||||||||||||||||||||||
Pretax loss from continuing operations | (275,890 | ) | (278,756 | ) | (238,146 | ) | (120,921 | ) | (41,005 | ) | (149,674 | ) | ||||||||||||
Distributed equity income of affiliated companies | — | — | — | — | 216 | 6 | ||||||||||||||||||
Add: Fixed Charges | 203,283 | 166,386 | 151,135 | 116,504 | 12,862 | 108,269 | ||||||||||||||||||
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Total earnings available for fixed charges | $ | (72,674 | ) | $ | (112,370 | ) | $ | (87,011 | ) | $ | (4,417 | ) | $ | (27,927 | ) | $ | (41,399 | ) | ||||||
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Earnings for the period were insufficient to cover fixed charges by the following amounts: | (275,890 | ) | (278,756 | ) | (238,146 | ) | (120,921 | ) | (40,789 | ) | (149,668 | ) | ||||||||||||
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Ratio of earnings to fixed charges (2) | NM | NM | NM | NM | NM | NM | ||||||||||||||||||
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(1) | Represents the portion of rental expense deemed to be attributable to interest |
(2) | NM - Not meaningful |