Exhibit 12.1
Computation of Ratio Earnings to Fixed Charges
For the nine months ended September 30, 2010, the years ended December 31, 2009, 2008 and 2007,
the Periods from May 24, 2006 to December 31,2006
and January 1, 2006 to May 23, 2006 and the Year ended December 31, 2005
Successor | Predecessor | |||||||||||||||||||||||||||||
Nine Months Ended September 30, 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 | Year ended December 31, 2005 | ||||||||||||||||||||||||
(IN MILLIONS) | ||||||||||||||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||||||||
Interest expense | $ | 491 | $ | 655 | $ | 723 | $ | 717 | $ | 410 | $ | 49 | $ | 130 | ||||||||||||||||
Interest capitalized | — | 1 | 2 | — | — | — | 1 | |||||||||||||||||||||||
Appropriate portion of rental expense representative of the interest factor | 24 | 36 | 36 | 37 | 27 | 17 | 47 | |||||||||||||||||||||||
Total fixed charges | $ | 515 | $ | 692 | $ | 761 | $ | 754 | $ | 437 | $ | 66 | $ | 178 | ||||||||||||||||
Earnings | ||||||||||||||||||||||||||||||
Income/(loss) from continuing operations before income taxes and equity in net income/(loss) of affiliates | 160 | (603 | ) | (271 | ) | (354 | ) | (407 | ) | 2 | 140 | |||||||||||||||||||
Fixed charges per above | 515 | 692 | 761 | 754 | 437 | 66 | 178 | |||||||||||||||||||||||
Amortization of capitalized interest | — | 1 | 2 | 1 | 1 | 1 | 1 | |||||||||||||||||||||||
Dividends received from affiliates | 10 | 11 | 11 | 8 | 4 | 8 | 11 | |||||||||||||||||||||||
Income attributable to noncontrolling interests | 1 | 2 | — | — | — | — | — | |||||||||||||||||||||||
Interest capitalized | — | (1 | ) | (2 | ) | — | — | — | (1 | ) | ||||||||||||||||||||
Total earnings | $ | 686 | $ | 102 | $ | 501 | $ | 409 | $ | 35 | $ | 77 | $ | 329 | ||||||||||||||||
Ratio of earnings to fixed charges | 1.3 | (a | ) | (a | ) | (a | ) | (a | ) | 1.2 | 1.8 |
(a) | Earnings for 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 $590 million, $260 million, $345 million and $402 million, respectively. |