EXHIBIT 12.2
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(in thousands)
| Year Ended December 31 | |||||||||||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||
Net loss attributable to common shareholders | (202,907 | ) | (148,305 | ) | (135,819 | ) | (102,505 | ) | (252,298 | ) | |||||
Add: fixed charges | 146,027 | 15,421 | 45,147 | 18,942 | 12,504 | ||||||||||
Earnings as defined | (56,880 | ) | (132,884 | ) | (90,672 | ) | (83,563 | ) | (239,794 | ) | |||||
Fixed charges: | |||||||||||||||
Interest expensed and capitalized | 145,332 | 14,827 | 44,582 | 17,559 | 10,988 | ||||||||||
Estimated interest components of rent | 695 | 594 | 565 | 1,383 | 1,516 | ||||||||||
Total fixed charges | 146,027 | 15,421 | 45,147 | 18,942 | 12,504 | ||||||||||
Preferred stock dividends | 662 | 648 | — | — | — | ||||||||||
Deemed dividends on conversion of preferred stock | 21,149 | — | — | — | — | ||||||||||
Total combined fixed charges and preferred stock dividends | 167,838 | 16,069 | 45,147 | 18,942 | 12,504 | ||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | (1) | (1) | (1) | (1) | (1) | ||||||||||
| (1) | Earnings (as defined) for the period were insufficient to cover fixed charges and preferred stock dividends by an amount equal to the net loss attributable to common shareholders for the period. |
