Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
Our ratio of earnings to fixed charges is as follows (in thousands):
| Six months ended June 30, 2018 |
2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||
| Earnings: |
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| Income (loss) from continuing operations before provision for income taxes and noncontrolling interest |
$ | 9,455 | $ | 245,931 | $ | 78,225 | $ | 43,124 | $ | (45,321 | ) | $ | (440,859 | ) | ||||||||||
| Interest expense and other |
82,388 | 65,467 | 63,399 | 57,894 | 62,919 | 5,748 | ||||||||||||||||||
| Portion of rents representative of the interest factor(1) |
10,156 | 14,834 | 11,994 | 13,480 | 35,516 | 38,850 | ||||||||||||||||||
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| 101,999 | $ | 326,232 | $ | 153,618 | $ | 114,498 | $ | 53,114 | $ | (396,261 | ) | |||||||||||||
| Fixed charges: |
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| Interest expense, including amount capitalized |
$ | 82,388 | $ | 67,062 | $ | 74,624 | $ | 73,603 | $ | 85,361 | $ | 8,886 | ||||||||||||
| Portion of rents representative of the interest factor(1) |
10,156 | 14,834 | 11,994 | 13,480 | 35,516 | 38,850 | ||||||||||||||||||
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| $ | 92,544 | $ | 81,896 | $ | 86,618 | $ | 87,083 | $ | 120,877 | $ | 47,736 | |||||||||||||
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| Ratio of earnings to fixed charges(2) |
1.10x | 3.98x | 1.77x | 1.31x | — | — | ||||||||||||||||||
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| (1) | 33% of rental expense |
| (2) | For 2014 and 2013, earnings were deficient to cover fixed charges by $67,763 and $443,997, respectively, primarily as a result of operating losses. |