Exhibit 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)
 
 
 
 
Year-Ended December 31,
(unaudited)
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings:
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes
 
$
(127,256
)
 
$
(373,075
)
 
$
(7,820
)
 
$
(55,654
)
 
$
29,849

Fixed charges
 
102,890

 
72,741

 
73,012

 
73,589

 
68,594

Earnings
 
$
(24,366
)
 
$
(300,334
)
 
$
65,192

 
$
17,935

 
$
98,443

Fixed charges:
 
 
 
 
 
 
 
 
 
 
Rental expense
 
$
6,265

 
$
4,638

 
$
5,621

 
$
6,081

 
$
6,156

Interest expense
 
96,625

 
68,103

 
67,391

 
67,508

 
62,438

Fixed charges
 
$
102,890

 
$
72,741

 
$
73,012

 
$
73,589

 
$
68,594

Ratio of earnings to fixed charges
 
(a)
 
(a)
 
(a)
 
(a)
 
1.4x
(a) Earnings were inadequate to cover fixed charges for the years ended December 31, 2016,  2015 and 2014 by $127.3 million, $373.1 million and $7.87 million, respectively.