EX-12.1 7 d161470dex121.htm EX-12.1

EX-12.1

Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

(in thousands)

		Fiscal Year Ended December 31,
		2011				2012				2013				2014				2015
Earnings:
Net loss before income taxes		$	(160,804	)		$	(169,774	)		$	(191,490	)		$	(198,382	)		$	(368,445	)
Add: Fixed charges			20,946				20,553				18,968				12,091				22,100
Add: Amortization of capitalized interest			255				—				—				—				—
Less: Capitalized interest			(429	)			(307	)			(74	)			(440	)			(215	)
Earnings as defined			(140,032	)			(149,528	)			(172,596	)			(186,731	)			(346,560	)
Fixed Charges:
Interest expense			21,824				21,630				21,462				20,443				24,125
Amortization of discount and capitalized interest			(1,307	)			(1,384	)			(2,568	)			(8,792	)			(2,240	)
Capitalized interest			429				307				74				440				215
Total fixed charges			20,946				20,553				18,968				12,091				22,100
Deficiency of earnings to cover fixed charges (1)(2)		$	(160,978	)		$	(170,081	)		$	(191,564	)		$	(198,822	)		$	(368,660	)

(1) For the purpose of this table, “earnings” consists of income (loss) from continuing operations before income taxes, plus fixed charges and amortization of capitalized interest, less interest capitalized. “Fixed charges” consist of interest expensed and capitalized related to indebtedness. For the fiscal years ended December 31, 2011, 2012, 2013, 2014 and 2015, we had no earnings.

(2) In each of the periods presented, earnings were insufficient to cover fixed charges. The ratio of earnings to fixed charges was less than one-to-one for each of the periods presented. We have not included a ratio of earnings to combined fixed charges and preferred stock dividends because we do not have any preferred stock outstanding as of the date of this prospectus.