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Calculation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
(in thousands)
| Six Months Ended June 30, 2014 | Fiscal Year Ended December 31, | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2012 | 2011 | ||||||||||
Fixed Charges: | |||||||||||||
Interest expense | $ | 2,000 | $ | 4,000 | $ | 8,608,000 | $ | 19,000 | |||||
Estimate of interest within rental expense(1) | 67,000 | 103,000 | 78,000 | 62,000 | |||||||||
| | | | | | | | | | | | | |
Fixed Charges | $ | 69,000 | $ | 107,000 | $ | 8,686,000 | $ | 81,000 | |||||
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Earnings: | |||||||||||||
Loss before income taxes | (35,496,000 | ) | (62,121,000 | ) | (29,912,000 | ) | (26,294,000 | ) | |||||
Fixed charges | 69,000 | 107,000 | 8,686,000 | 81,000 | |||||||||
| | | | | | | | | | | | | |
(35,427,000 | ) | (62,014,000 | ) | (21,226,000 | ) | (26,213,000 | ) | ||||||
Deficiency of Earnings to cover fixed charges | $ | (35,496,000 | ) | $ | (62,121,000 | ) | $ | (29,912,000 | ) | $ | (26,294,000 | ) | |
| | | | | | | | | | | | | |
| | | | | | | | | | | | | |
Ratio of earnings to fixed charges(2)(3) | — | — | — | — |
- (1)
- Management believes a reasonable approximation of one-third is deemed to be the estimate of interest within rent.
- (2)
- Earnings for the six months ended June 30, 2014 and for the years ended December 31, 2013, 2012 and 2011 were inadequate to cover fixed charges and, accordingly, no ratio to fixed charges is disclosed for those periods.
- (3)
- Currently, we have no shares of preferred stock outstanding and have not paid any dividends on preferred stock in the periods presented.
Calculation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends (in thousands)