EXHIBIT 12.1
Published on March 8, 2013
Exhibit 12.1
Ratio of Income (Loss) To Combined Fixed Charges And Preferred Stock Dividends
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The following table sets forth the calculation of our ratio of earnings to combined fixed charges and preferred stock
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dividends for the periods shown (dollars in thousands):
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For the Year Ended
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December 31, 2011
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December 31, 2010
(as restated)
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December 31, 2009
(as restated)
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December 31, 2008
(as restated)
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For the Period November 21, 2007 to
December 31, 2007 (as restated)
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Net income (loss) before taxes
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$ | 137,935 | $ | 249,161 | $ | 230,697 | $ | (136,105 | ) | $ | (2,835 | ) | |||||||||
Add:
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fixed charges (interest expense) (1)
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150,787 | 152,236 | 35,083 | 60,544 | 415 | |||||||||||||||
preferred stock dividend
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Income (loss) as adjusted
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$ | 288,722 | $ | 401,397 | $ | 265,780 | $ | (75,561 | ) | $ | (2,420 | ) | |||||||||
Fixed charges (interest expense) + preferred stock dividend
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$ | 150,787 | $ | 152,236 | $ | 35,083 | $ | 60,544 | $ | 415 | |||||||||||
Ratio of income (losses) to combined fixed charges and preferred stock dividends
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1.91 | X | 2.64 | X | 7.58 | X | -- | -- | |||||||||||||
Deficiency | $ | -- | $ | -- | $ | -- | $ | 136,105 | $ | 2,835 | |||||||||||
(1) Includes effect of realized losses on interest rate swaps.
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