RATIO OF EARNINGS TO FIXED CHARGES
| |
Year Ended December 31, | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| |
2012 | 2011 | 2010 | |||||||
| |
(In thousands) |
|||||||||
Earnings Before Fixed charges: |
||||||||||
Earnings from continuing operations before non-controlling interest or tax |
$ | (39,540 | ) | $ | (1,264 | ) | $ | (24,708 | ) | |
Capitalized interest |
(4,048 | ) | (900 | ) | (128 | ) | ||||
Depreciation of capitalized interest |
992 | 790 | 745 | |||||||
Non-controlling interest |
(163 | ) | (48 | ) | 19 | |||||
Total earnings before fixed charges |
$ | (42,759 | ) | $ | (1,422 | ) | $ | (24,072 | ) | |
Fixed charges: |
||||||||||
Interest expense includes discontinued operations |
$ | 86,521 | 79,233 | 87,035 | ||||||
Capitalized interest includes discontinued operations |
4,048 | 900 | 128 | |||||||
Total fixed charges |
$ | 90,569 | $ | 80,133 | $ | 87,163 | ||||
Total earnings & fixed charges |
$ | 47,810 | $ | 78,711 | $ | 63,091 | ||||
Ratio of earnings to fixed charges |
0.53 | 0.98 | 0.72 | |||||||
Deficiency |
$ | (42,759 | ) | $ | (1,422 | ) | $ | (24,072 | ) | |