Exhibit 12.1
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
Three Months Ended March 31, 2010 | Year Ended December 31 | |||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||
(in thousands) | ||||||||||||||||||
Net loss attributable to common shareholders | (44,197 | ) | (116,763 | ) | (202,907 | ) | (148,305 | ) | (135,819 | ) | (102,505 | ) | ||||||
Add: fixed charges and preferred stock dividends | 18,410 | 40,932 | 167,838 | 16,069 | 45,147 | 18,942 | ||||||||||||
Earnings as defined | (25,787 | ) | (75,831 | ) | (35,069 | ) | (132,236 | ) | (90,672 | ) | (83,563 | ) | ||||||
Fixed charges: | ||||||||||||||||||
Interest expensed and capitalized | 1,002 | 16,939 | 145,332 | 14,827 | 44,582 | 17,559 | ||||||||||||
Preferred stock dividends | 17,277 | 23,484 | 21,811 | 648 | — | — | ||||||||||||
Estimated interest component of rent | 131 | 509 | 695 | 594 | 565 | 1,383 | ||||||||||||
Total fixed charges and preferred stock dividends | 18,410 | 40,932 | 167,838 | 16,069 | 45,147 | 18,942 | ||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | (1) | (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. |