Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
Successor | Predecessor | |||||||||||||||||||||||||||||||
Six months ended June 30 | Year ended December 31, | |||||||||||||||||||||||||||||||
2017 | 2016 | 2016 | 2015 | 2014 | 2013 | Period from November 17, through December 31, 2012 | Period from January 1, through November 16, 2012 | |||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||
Interest expense | $ | 108,639 | 92,865 | $ | 197,965 | $ | 161,339 | $ | 147,511 | $ | 114,476 | $ | 12,645 | $ | 106,620 | |||||||||||||||||
Capitalized interest | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Portion of rental expense which represents interest factor (1) | 2,743 | 2,653 | 5,318 | 5,047 | 3,624 | 2,028 | 217 | 1,649 | ||||||||||||||||||||||||
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Total Fixed Charges | 111,382 | 95,518 | 203,283 | 166,386 | 151,135 | 116,504 | 12,862 | 108,269 | ||||||||||||||||||||||||
Earnings Available for Fixed Charges: | ||||||||||||||||||||||||||||||||
Pretax loss from continuing operations | (165,722) | (134,143) | (275,890) | (278,756) | (238,146) | (120,921) | (41,005) | (149,674) | ||||||||||||||||||||||||
Distributed equity income of affiliated companies | — | — | — | — | — | — | 216 | 6 | ||||||||||||||||||||||||
Add: Fixed Charges | 111,382 | 95,518 | 203,283 | 166,386 | 151,135 | 116,504 | 12,862 | 108,269 | ||||||||||||||||||||||||
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Total earnings available for fixed charges | $ | (54,340) | (38,625) | $ | (72,607) | $ | (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: | $ | (165,722) | (134,413) | (275,890) | (278,756) | (238,146) | (120,921) | (40,789) | (149,668) | |||||||||||||||||||||||
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Ratio of earnings to fixed | NM | NM | 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 |