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- S-4 Registration of securities issued in business combination transactions
- 3.4 EX-3.4
- 3.5 EX-3.5
- 3.6 EX-3.6
- 3.7 EX-3.7
- 3.8 EX-3.8
- 3.9 EX-3.9
- 3.10 EX-3.10
- 3.11 EX-3.11
- 3.12 EX-3.12
- 3.13 EX-3.13
- 3.14 EX-3.14
- 3.15 EX-3.15
- 3.16 EX-3.16
- 3.17 EX-3.17
- 3.18 EX-3.18
- 3.19 EX-3.19
- 3.20 EX-3.20
- 3.21 EX-3.21
- 3.22 EX-3.22
- 3.23 EX-3.23
- 3.24 EX-3.24
- 3.25 EX-3.25
- 3.26 EX-3.26
- 3.27 EX-3.27
- 3.28 EX-3.28
- 3.29 EX-3.29
- 3.30 EX-3.30
- 3.31 EX-3.31
- 3.32 EX-3.32
- 3.33 EX-3.33
- 3.34 EX-3.34
- 3.35 EX-3.35
- 3.36 EX-3.36
- 3.37 EX-3.37
- 3.38 EX-3.38
- 3.39 EX-3.39
- 3.40 EX-3.40
- 3.41 EX-3.41
- 3.42 EX-3.42
- 3.43 EX-3.43
- 4.3 EX-4.3
- 5.1 EX-5.1
- 5.2 EX-5.2
- 5.3 EX-5.3
- 5.4 EX-5.4
- 12.1 EX-12.1
- 23.5 EX-23.5
- 23.6 EX-23.6
- 24.1 EX-24.1
- 25.1 EX-25.1
- 99.1 EX-99.1
- 99.2 EX-99.2
- 99.3 EX-99.3
- 99.4 EX-99.4
- 24 Jan 14 Registration of securities issued in business combination transactions (amended)
- 13 Dec 13 Registration of securities issued in business combination transactions
- 5 Jun 13 Registration of securities issued in business combination transactions (amended)
- 3 May 13 Registration of securities issued in business combination transactions
- 17 Jun 05 Registration of securities issued in business combination transactions (amended)
- 16 Jun 05 Registration of securities issued in business combination transactions (amended)
- 16 Jun 05 Registration of securities issued in business combination transactions (amended)
Exhibit 12.1
Computation of ratio of earnings to fixed charges
(dollars in thousands)
|
| Year ended December 31, |
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| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 2008 |
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Earnings: |
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Earnings (loss) from continuing operations before income taxes and equity in (losses) income of unconsolidated affiliates |
| $ | 314,407 |
| $ | 207,822 |
| $ | 48,362 |
| $ | (932,985 | ) | $ | 94,600 |
|
Fixed charges |
| 13,866 |
| 13,485 |
| 13,169 |
| 12,413 |
| 38,767 |
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Distributed income of equity investees |
| — |
| — |
| 11,355 |
| — |
| — |
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Share of pre-tax losses of equity investee for which charges arising from a guarantee are included in fixed charges (a) |
| (22,604 | ) | (28,936 | ) | — |
| — |
| — |
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Total earnings (loss), as adjusted |
| $ | 305,669 |
| $ | 192,371 |
| $ | 72,886 |
| $ | (920,572 | ) | $ | 133,367 |
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Fixed Charges: |
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Interest expense (a) |
| $ | 6,068 |
| $ | 5,477 |
| $ | 5,223 |
| $ | 5,642 |
| $ | 29,061 |
|
Amortization of debt issuance costs |
| 142 |
| 181 |
| 181 |
| 181 |
| 3,302 |
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Interest portion of rent expense |
| 7,656 |
| 7,827 |
| 7,765 |
| 6,590 |
| 6,404 |
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Total fixed charges |
| $ | 13,866 |
| $ | 13,485 |
| $ | 13,169 |
| $ | 12,413 |
| $ | 38,767 |
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Ratio of earnings to fixed charges |
| 22.0 |
| 14.3 |
| 5.5 |
| — |
| 3.4 |
|
(a) IAC guaranteed half of an equity method investee’s bank loan and was required to satisfy the guarantee in 2012. Interest expense on this loan of $0.1 million and $0.2 million in the years ended December 31, 2012 and 2011, respectively, is included in fixed charges.