Exhibit 12.1
Ratio/Deficiency of Earnings to Fixed Charges
Year Ended 12/31/12 | Year Ended 12/31/13 | Year Ended 12/31/14 | Year Ended 12/31/15 | Year Ended 12/31/16 | Three months ended 3/31/17 | |||||||||||||||||||
(dollars in thousands) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Loss from continuing ops before taxes | (177,092 | ) | (57,219 | ) | (15,660 | ) | (166,594 | ) | 87,300 | 40,996 | ||||||||||||||
Plus: Fixed charges, less preferred dividends | 315,250 | 369,119 | 391,247 | 397,602 | 409,980 | 99,281 | ||||||||||||||||||
Plus: Current period amortization of interest capitalized in prior periods | 583 | 553 | 521 | 422 | 266 | 50 | ||||||||||||||||||
Less: Capitalized interest | (318 | ) | (108 | ) | (304 | ) | (790 | ) | (961 | ) | (256 | ) | ||||||||||||
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Total Earnings | 138,423 | 312,345 | 375,803 | 230,639 | 496,585 | 140,071 | ||||||||||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest Expense—cash | 196,241 | 249,051 | 292,600 | 322,366 | 329,171 | 77,602 | ||||||||||||||||||
Capitalized interest | 318 | 108 | 304 | 790 | 961 | 256 | ||||||||||||||||||
Interest Expense—non cash | 70,110 | 49,085 | 27,112 | 1,505 | 2,203 | 705 | ||||||||||||||||||
Amortization of Debt Issue Costs | 12,870 | 15,560 | 17,572 | 19,154 | 21,136 | 6,698 | ||||||||||||||||||
Interest Component of Operating Leases | 35,711 | 55,315 | 53,659 | 53,787 | 56,509 | 14,020 | ||||||||||||||||||
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Total Fixed Charges | 315,250 | 369,119 | 391,247 | 397,602 | 409,980 | 99,281 | ||||||||||||||||||
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Total Deficiency | $ | 176,827 | $ | 56,775 | $ | 15,443 | $ | 166,962 | $ | (86,605 | ) | $ | (40,790 | ) | ||||||||||
Ratio of Earnings to Fixed Charges | — | — | — | — | 1.21 | 1.41 |