EX-12.1 3 d352060dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Ratio of Earnings to Fixed Charges for the Years Ended (dollars in thousands):

 

     2016     2015     2014     2013     2012  

Loss before tax

    $ (86,350 )    $ (118,290 )    $ (59,201 )    $ (169,421 )    $ (170,068 ) 

Fixed charges

      18,863       20,461       18,892       34,506       18,302  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Adjusted loss

      (67,487 )      (97,829 )      (40,309 )      (134,915 )      (151,766 ) 

Fixed Charges:

           

Interest expense

      18,677       20,180       18,575       34,179       18,091  

Interest expense on rent

      186       281       317       327       211  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

      18,863       20,461       18,892       34,506       18,302  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges (1)

      —       —       —       —       —  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Coverage deficiency

      (86,350 )      (118,290 )      (59,201 )      (169,421 )      (170,068 ) 

(1) Our earnings were insufficient to cover fixed charges in each of the five years ended December 31, 2016 and accordingly, ratios are not presented.