EXHIBIT 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS
| For the Year Ended December 31, | ||||||||||||||||||||
| 2012 | 2013 | 2014 | 2015 | 2016 | ||||||||||||||||
| (in thousands) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | (32,671 | ) | $ | (14,943 | ) | $ | (59,504 | ) | $ | (85,537 | ) | $ | (61,751 | ) | |||||
Fixed charges | 10,026 | 10,702 | 11,108 | 11,033 | 10,725 | |||||||||||||||
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Earnings (Loss) as Defined | $ | (22,645 | ) | $ | (4,241 | ) | $ | (48,396 | ) | $ | (74,504 | ) | $ | (51,026 | ) | |||||
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Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 10,026 | $ | 10,702 | $ | 11,108 | $ | 11,033 | $ | 10,725 | ||||||||||
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Total Fixed Charges | $ | 10,026 | $ | 10,702 | $ | 11,108 | $ | 11,033 | $ | 10,725 | ||||||||||
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Preferred Stock Dividends | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||
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Ratio of Earnings (Loss) to Fixed Charges | Note 1 | Note 1 | Note 1 | Note 1 | Note 1 | |||||||||||||||
Ratio of Earnings (Loss) to Combined Fixed Charges and Preferred Dividends | Note 2 | Note 2 | Note 2 | Note 2 | Note 2 | |||||||||||||||
Note 1: For the fiscal years ended December 31, 2012, 2013, 2014, 2015 and 2016, our earnings were insufficient to cover fixed charges by ($32.7) million, ($14.9) million, ($59.5) million, ($85.5) million, and ($61.7) million, respectively.
Note 2: For the fiscal years ended December 31, 2012, 2013, 2014, 2015 and 2016, our combined fixed charges and preference dividends exceeded earnings by ($32.7) million, ($14.9) million, ($59.5) million, ($85.5) million, and ($61.7) million, respectively.
