Exhibit 12.1

Computation of Ratio Earnings to Fixed Charges

For the three months ended March 31, 2011, the years ended December 31, 2010, 2009, 2008 and 2007

and the Periods from May 24, 2006 to December 31, 2006 and January 1, 2006 to May 23, 2006

|  | Successor |  |  |  |  | Predecessor |
|  | Three Months Ended March 31, 2011 |  |  | Year Ended December 31, 2010 |  |  | Year Ended December 31, 2009 |  |  | Year Ended December 31, 2008 |  |  | Year Ended December 31, 2007 |  |  | May 24- December 31, 2006 |  |  |  |  | January 1- May 23, 2006 |
(IN MILLIONS) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed Charges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest expense |  | $ | 136 |  |  | $ | 660 |  |  | $ | 656 |  |  | $ | 639 |  |  | $ | 648 |  |  | $ | 372 |  |  |  |  | $ | 48 |
Interest capitalized |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  |  |  | — |
Appropriate portion of rental expense representative of the interest factor |  |  | 9 |  |  |  | 32 |  |  |  | 36 |  |  |  | 36 |  |  |  | 37 |  |  |  | 27 |  |  |  |  |  | 17 |
Total fixed charges |  | $ | 145 |  |  | $ | 692 |  |  | $ | 693 |  |  | $ | 677 |  |  | $ | 685 |  |  | $ | 399 |  |  |  |  | $ | 65 |
Earnings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(Loss)/income from continuing operations before income taxes and equity in net (loss)/income of affiliates |  |  | (308 | ) |  |  | 102 |  |  |  | (600 | ) |  |  | (184 | ) |  |  | (280 | ) |  |  | (398 | ) |  |  |  |  | 2 |
Fixed charges per above |  |  | 145 |  |  |  | 692 |  |  |  | 693 |  |  |  | 677 |  |  |  | 685 |  |  |  | 399 |  |  |  |  |  | 65 |
Amortization of capitalized interest |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 2 |  |  |  | 1 |  |  |  | 1 |  |  |  |  |  | 1 |
Dividends received from affiliates |  |  | 4 |  |  |  | 11 |  |  |  | 11 |  |  |  | 11 |  |  |  | 8 |  |  |  | 4 |  |  |  |  |  | 8 |
Income attributable to noncontrolling interests |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  | — |
Interest capitalized |  |  |  |  |  |  | — |  |  |  | (1 | ) |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  |  |  | — |
Total earnings |  | $ | (158 | ) |  | $ | 807 |  |  | $ | 106 |  |  | $ | 504 |  |  | $ | 414 |  |  | $ | 6 |  |  |  |  | $ | 76 |
Ratio of earnings to fixed charges |  |  | (a | ) |  |  | 1.2 |  |  |  | (a | ) |  |  | (a | ) |  |  | (a | ) |  |  | (a | ) |  |  |  |  | 1.2 |

(a) | Earnings for the three months ended March 31, 2011, the years ended December 31, 2009, 2008 and 2007 and for the Successor period of May 24, 2006 to December 31, 2006 were inadequate to cover fixed charges by $303 million, $587 million, $173 million, $271 million and $393 million, respectively.