EXHIBIT 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES(1)
Our earnings are inadequate to cover fixed charges. The following table sets forth the dollar amount of the coverage deficiency (in thousands).
Six | ||||||||||||||||||||||||
Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
Year Ended December 31, | June 30, | |||||||||||||||||||||||
(In Thousands) | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | ||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
Income (loss) before income taxes | $ | (111,378 | ) | $ | (96,853 | ) | $ | (68,881 | ) | $ | (38,379 | ) | $ | (35,670 | ) | $ | (18,671 | ) | ||||||
Add: Fixed charges | 332 | 452 | 369 | 356 | 234 | 116 | ||||||||||||||||||
Less: Capitalized interest | — | — | — | — | — | — | ||||||||||||||||||
Coverage Deficiency | $ | (111,046 | ) | $ | (96,401 | ) | $ | (68,512 | ) | $ | (38,023 | ) | $ | (35,436 | ) | $ | (18,555 | ) | ||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expensed | $ | — | $ | 124 | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Estimated interest portion of rent | ||||||||||||||||||||||||
expense | 332 | 328 | 369 | 356 | 234 | 116 | ||||||||||||||||||
Fixed charges | $ | 332 | $ | 452 | $ | 369 | $ | 356 | $ | 234 | $ | 116 | ||||||||||||
Ratio of earnings to fixed charges(1) | N/A | N/A | N/A | N/A | N/A | N/A |
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(1) | The ratio of earnings to fixed charges was computed by dividing earnings by fixed charges. For this purpose, earnings consist of net loss before fixed charges. Fixed charges consist of estimated interest expense on outstanding lease liabilities and amortization of debt discount and accrual of interest on outstanding debt. |