Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges | |||||||||||||||||||
Three Months Ended March 31, 2016 | Years Ended December 31, | ||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
(in thousands, except for ratio and percentages) | |||||||||||||||||||
Pre-tax income (loss) from continuing operations | $ | (30,567 | ) | $ | (557,800 | ) | $ | (734,875 | ) | $ | (626,044 | ) | $ | 31,996 | $ | 80,254 | |||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 21,626 | $ | 85,858 | $ | 74,606 | $ | 24,060 | $ | 15,034 | $ | 50,417 | |||||||
Interest capitalized | — | — | — | — | — | — | |||||||||||||
Amortization of debt discounts/premiums/debt issuance costs | 45 | 278 | 78 | 554 | 1,619 | 4,836 | |||||||||||||
Rent expense | 4,410 | 18,059 | 38,912 | 57,670 | 57,110 | 49,352 | |||||||||||||
Effective interest rate of term loan | 7.13 | % | 7.13 | % | 7.13 | % | 7.13 | % | 7.13 | % | 7.13 | % | |||||||
Estimate of interest within rental expense | 315 | 1,288 | 2,775 | 4,113 | 4,073 | 3,519 | |||||||||||||
Total fixed charges | $ | 21,986 | $ | 87,424 | $ | 77,459 | $ | 28,727 | $ | 20,726 | $ | 58,772 | |||||||
Subtract noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | 4,161 | (6,646 | ) | (764 | ) | — | — | — | |||||||||||
Total earnings | $ | (12,742 | ) | $ | (463,730 | ) | $ | (656,652 | ) | $ | (597,317 | ) | $ | 52,722 | $ | 139,026 | |||
Ratio of earnings to fixed charges | N/A | N/A | N/A | N/A | 2.54 | 2.37 | |||||||||||||
Deficiency of earnings available to cover fixed charges | $ | (34,728 | ) | $ | (551,154 | ) | $ | (734,111 | ) | $ | (626,044 | ) | N/A | N/A |