Attached files
Exhibit 12.1
SCHEDULE OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Years Ended December 31, | Six Months Ended June 30, | ||||||||||||||||||||||||
2009 | 2010 | 2011 | 2012 | 2013 | 2014 | ||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||
Income (loss) before income taxes and cumulative effect of accounting change | $ | (41,848 | ) | $ | (20,804 | ) | $ | 53,969 | $ | 116,453 | $ | (27,568 | ) | 6,493 | |||||||||||
Interest expense | 55,857 | 72,307 | 86,192 | 93,200 | 93,890 | 39,253 | |||||||||||||||||||
(Gain)/loss on investment in equity investees in excess of distributed earnings | 164 | 2,243 | — | 361 | 958 | 5,417 | |||||||||||||||||||
Amortization of capitalized interest | 152 | 267 | 170 | 115 | 381 | 201 | |||||||||||||||||||
Loan cost amortization | — | — | 523 | 2,906 | 2,928 | 3,972 | |||||||||||||||||||
Earnings | $ | 14,325 | $ | 54,013 | $ | 140,854 | $ | 213,035 | $ | 70,589 | $ | 55,336 | |||||||||||||
Fixed Charges: | |||||||||||||||||||||||||
Interest expense | $ | 55,857 | $ | 72,307 | $ | 86,192 | $ | 93,200 | $ | 93,890 | $ | 39,253 | |||||||||||||
Capitalized interest | 2,764 | 593 | 883 | 2,249 | 1,131 | 554 | |||||||||||||||||||
Loan cost amortization | — | — | 523 | 2,906 | 2,928 | 3,972 | |||||||||||||||||||
Fixed Charges | $ | 58,621 | $ | 72,900 | $ | 87,598 | $ | 98,355 | $ | 97,949 | $ | 43,779 | |||||||||||||
Ratio of Earnings to Fixed Charges | 0.2 | 0.7 | 1.6 | 2.2 | 0.7 | 1.3 | |||||||||||||||||||
Insufficient Coverage | $ | 44,296 | $ | 18,887 | $ | — | $ | — | $ | 27,360 | $ | — | |||||||||||||