Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Successor | Predecessor | |||||||||||||||||||||||||||||||
Three months ended | Year ended | |||||||||||||||||||||||||||||||
March 31, 2016 | March 31, 2015 | December 31, 2015 | December 31, 2014 | December 31, 2013 | Period from November 17, through December 31, 2012 | Period from January 1, through November 16, 2012 | Year Ended December 31, 2011 | |||||||||||||||||||||||||
(in thousands, except ratios) | ||||||||||||||||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||||||||||
Interest expense | $ | 45,418 | $ | 38,257 | $ | 161,339 | $ | 147,511 | $ | 114,476 | $ | 12,645 | $ | 106,620 | $ | 102,069 | ||||||||||||||||
Capitalized interest | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||
Portion of rental expense which represents interest factor (1) | 1,324 | 1,195 | 5,047 | 3,624 | 2,028 | 217 | 1,649 | 1,676 | ||||||||||||||||||||||||
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Total Fixed Charges | $ | 46,742 | $ | 39,452 | $ | 166,386 | $ | 151,135 | $ | 116,504 | $ | 12,862 | $ | 108,269 | $ | 103,745 | ||||||||||||||||
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Earnings available for fixed charges: | ||||||||||||||||||||||||||||||||
Pretax loss from continuing operations | (43,973 | ) | (47,916 | ) | (278,756 | ) | (238,146 | ) | (120,921 | ) | (41,005 | ) | (149,674 | ) | (63,227 | ) | ||||||||||||||||
Distributed equity income of affiliated companies | — | — | — | — | — | 216 | 6 | 39 | ||||||||||||||||||||||||
Add: Fixed charges | 46,742 | 39,452 | 166,386 | 151,135 | 116,504 | 12,862 | 108,269 | 103,745 | ||||||||||||||||||||||||
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Total Earnings available for fixed charges | $ | 2,769 | $ | (8,464 | ) | $ | (112,370 | ) | $ | (87,011 | ) | $ | (4,417 | ) | $ | (27,927 | ) | $ | (41,399 | ) | $ | 40,557 | ||||||||||
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Earnings for the period were insufficient to cover fixed charges by the following amounts: | $ | (43,973 | ) | $ | (47,916 | ) | $ | (278,756 | ) | $ | (238,146 | ) | $ | (120,921 | ) | $ | (40,789 | ) | $ | (149,668 | ) | $ | (63,188 | ) | ||||||||
Ratio of earnings to fixed charges (2) | NM | NM | NM | NM | NM | NM | NM | NM |
(1) | Represents the portion of rental expense deemed to be attributable to interest |
(2) | NM - Not meaningful |