EXHIBIT 12.1
Published on December 31, 2013
Exhibit 12.1
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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,
2012 |
December 31,
2011 |
December 31,
2010 |
December 31,
2009 |
December 31,
2008 |
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Net income (loss) before taxes
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327,768 | $ | 137,935 | $ | 249,161 | $ | 230,697 | $ | (136,105 | ) | |||||||||||
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Add:
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fixed charges (interest expense) (1)
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146,781 | 150,787 | 152,236 | 35,083 | 60,544 | |||||||||||||||
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preferred stock dividend
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Income (loss) as adjusted
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474,549 | $ | 288,722 | $ | 401,397 | $ | 265,780 | $ | (75,561 | ) | |||||||||||
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Fixed charges (interest expense) + preferred stock dividend
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146,781 | $ | 150,787 | $ | 152,236 | $ | 35,083 | $ | 60,544 | ||||||||||||
| Ratio of income (losses) to combined fixed charges and preferred stock dividends | 3.23 | x | 1.91 | x | 2.64 | x | 7.58 | x | |||||||||||||
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Deficiency
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$ | - | $ | - | $ | - | $ | - | $ | 136,105 | |||||||||||
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(1) Includes effect of realized losses on interest rate swaps.
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