EX-12.1 4 ex12-1.htm RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

ex12-1.htm

Exhibit 12.1

Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

		For the Year Ended December 31,
Period ($000)		2013				2012				2011				2010				2009
Earnings:
Net Income		$	(4,126	)		$	(94,054	)		$	(40,272	)		$	6,377			$	16,846
Fixed Charges		$	5,109			$	7,363			$	7,577			$	17,188			$	20,582
Total Earnings		$	983			$	(86,691	)		$	(32,695	)		$	23,565			$	37,428
Fixed Charges:
Interest including amortization of debt issuance cost		$	5,109			$	7,363			$	7,577			$	17,188			$	20,582
Total Fixed Charges		$	5,109			$	7,363			$	7,577			$	17,188			$	20,582
Total Preferred Dividends			—				—				—				—				—
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends			—	1			—	1			—	1			1.37				1.82

1 Earnings for the years ended December 31, 2013, 2012 and 2011 were inadequate to cover fixed charges by $4,126, $94,054 and $40,272, respectively.