Exhibit 12.1

 

 

Quarter 

Ended

March 31,

2018

Year 

Ended December

31, 2017

Year Ended December 31,

2016

Year  Ended December 31, 2015

Year  Ended December

31, 2014

Year  Ended December

31, 2013

             

Ratio of earnings to fixed charges

 (3.7)

(3.4)

(7.1)

(2.2)

4.9

4.0

             
             

Ratio of earnings to combined fixed charges and preferred stock dividends 

(3.7)

(3.4)

(7.1)

(2.2)

4.9

4.0

             

 

Exhibit 12.1 Ratio of Earnings To Fixed Charges

           
               

Income (Loss) Before Income Tax Benefit and Equity in Earnings of 50% or Less Owned Companies

(41,720)

(117,023)

(190,305)

(52,576)

59,553

56,028

Plus fixed charges deducted from income:

           
 

Interest expense including amortization of debt issuance costs and capitalized interest

6,133

16,532

10,008

4,116

3,475

3,390

 

Assumed interest element included in rent expense

2,548

7,549

8,031

9,702

10,029

10,450

Plus distributions from equity investees

-

2,682

777

3,927

21,721

7,458

Plus share of pre-tax losses of equity investees for which guarantee charges are included in fixed charges

-

-

-

-

-

-

Less Capitalized Interest

(454)

(3,629)

(6,977)

(3,904)

(4,930)

(4,562)

Less noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges

           
 

Earnings available for fixed charges

(33,493)

(93,889)

(178,466)

(38,735)

89,848

72,764

               

Fixed Charges

           
 

Interest expense including amortization of debt issuance costs and capitalized interest

6,133

16,532

10,008

4,116

3,475

3,390

 

Assumed interest element included in rent expense

2,548

7,549

8,031

9,702

10,029

10,450

 

Capitalized Interest

454

3,629

6,977

3,904

4,930

4,562

Total fixed charges

9,135

27,710

25,016

17,722

18,434

18,402

               

Ratio of earnings to Fixed Charges

(3.7)

(3.4)

(7.1)

(2.2)

4.9

4.0