EXHIBIT 12.1
Ratio of Earnings to Fixed Charges | ||||||||||||||||||||||||
(dollars in thousands, except ratio data) | ||||||||||||||||||||||||
March 31, | December 31, | December 31, | December 31, | December 31, | December 31, | |||||||||||||||||||
2007 (1) | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense on indebtedness (including amortization of debt expense and discount) | $ | 9,809 | $ | 29,492 | $ | 17,849 | $ | 22,868 | $ | 23,723 | $ | 23,746 | ||||||||||||
Interest expense on portion of rent expense representative of interest | 5,117 | 19,899 | 14,614 | 9,089 | 7,604 | 7,206 | ||||||||||||||||||
Total Fixed Charges | $ | 14,926 | $ | 49,391 | $ | 32,463 | $ | 31,957 | $ | 31,327 | $ | 30,952 | ||||||||||||
Earnings (Loss): | ||||||||||||||||||||||||
Net loss before provision for income taxes | $ | (51,029 | ) | $ | (251,173 | ) | $ | (239,439 | ) | $ | (242,898 | ) | $ | (185,324 | ) | $ | (219,716 | ) | ||||||
Fixed Charges per above | 14,926 | 49,391 | 32,463 | 31,957 | 31,327 | 30,952 | ||||||||||||||||||
Total Earnings (Loss) | (36,103 | ) | $ | (201,782 | ) | $ | (206,976 | ) | $ | (210,941 | ) | $ | (153,997 | ) | $ | (188,764 | ) | |||||||
Ratio of Earnings to Fixed Charges | — | — | — | — | — | — | ||||||||||||||||||
Coverage deficiency (2)(3)(4) | $ | (51,029 | ) | $ | (251,173 | ) | $ | (239,439 | ) | $ | (242,898 | ) | $ | (185,324 | ) | $ | (219,716 | ) | ||||||
(1) | Amounts presented are for the three months ended March 31, 2007. | |
(2) | The Company’s Coverage deficiency for 2006 includes charges for lease termination and restructuring costs of $29,510 partially offset by a gain on the sale of an equity investment of $14,759. | |
(3) | The Company’s Coverage deficiency for 2004 includes net charges of $12,975, relating to a $15,408 charge for restructuring partially offset by a gain recognized on the extinguishment of debt of $2,433. | |
(4) | The Company’s Coverage deficiency for 2002 includes charges aggregating $46,396 arising from the Company’s impairment charge relating to its investment in CAT and a charge for construction design changes of $32,158 and $14,238, respectively. |