RATIO OF EARNINGS TO FIXED CHARGES
| |
Year Ended December 31, | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| |
2011 | 2010 | 2009 | |||||||
| |
(In thousands) |
|||||||||
Earnings Before Fixed charges: |
||||||||||
Earnings from continuing operations before non-controlling interest or tax |
$ | (1,264 | ) | $ | (24,708 | ) | $ | (75,695 | ) | |
Capitalized interest |
(900 | ) | (128 | ) | (1,076 | ) | ||||
Depreciation of capitalized interest |
790 | 745 | 738 | |||||||
Non-controlling interest |
(48 | ) | (19 | ) | (60 | ) | ||||
Total earnings before fixed charges |
$ | (1,422 | ) | $ | (24,110 | ) | $ | (76,093 | ) | |
Fixed charges: |
||||||||||
Interest expense includes discontinued operations |
$ | 79,233 | 87,035 | 125,903 | ||||||
Capitalized interest includes discontinued operations |
900 | 128 | 1,076 | |||||||
Total fixed charges |
$ | 80,133 | $ | 87,163 | $ | 126,979 | ||||
Total earnings & fixed charges |
$ | 78,711 | $ | 63,053 | $ | 50,886 | ||||
Ratio of earnings to fixed charges |
0.98 | 0.72 | 0.40 | |||||||
Deficiency |
$ | (1,422 | ) | $ | (24,110 | ) | $ | (76,093 | ) | |