EX-12.1 8 d617529dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(in thousands, except ratios)

The following table sets forth our ratio of earnings to fixed charges and our ratio of earnings to combined fixed charges and preferred stock dividends for the years ended December 31, 2013, 2012, 2011, 2010 and 2009. As the ratios of earnings to fixed charges and earnings to combined fixed charges and preferred stock dividends indicate less than one-to-one coverage for the years ended December 31, 2013, 2012, 2011, 2010 and 2009, we have provided the coverage deficiency amounts for those periods. Earnings are the sum of (i) loss from continuing operations before losses from equity affiliates, and (ii) fixed charges, less (i) interest capitalized. Fixed charges are the sum of (i) interest expensed and capitalized, (ii) amortization of capitalized expenses related to indebtedness, and (iii) estimate of interest within rental expense.

 

     Year Ended December 31,  
     2013     2012     2011     2010     2009  

Loss from continuing operations before income taxes*

    $ (43,119 )   $ (15,675 )    $ (16,839 )   $ (16,817 )    $ (24,071 ) 

Plus: Fixed charges

      617        670        1,110        865        179   

Less: Interest capitalized

      123       624        1,039       1,475        —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings, as adjusted

    $ (42,625 )    $ (15,629 )    $ (16,768 )    $ (17,427 )    $ (23,892 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges

      617       670        1,110       865        179   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 617      $ 670      $ 1,110      $ 865      $ 179   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      —          —          —          —          —     

Ratio of earnings to combined fixed charges and prefererred stock dividends

      —          —          —          —          —     

Deficiency of earnings available to cover fixed charges

      (42,008 )     (14,959 )      (15,658 )     (16,562 )      (23,713 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Deficiency of earnings available to cover fixed charges and preferred stock dividends

    $ (42,008 )    $ (14,959 )    $ (15,658 )    $ (16,562 )    $ (23,713 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

* Excluding losses from minority interest and income/loss from equity investees.