Years Ended December 31, | ||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
Earnings (losses) | ||||||||||||||||||||
Income (loss) before income taxes | $ | 9,689 | $ | 18,103 | $ | 7,327 | $ | (27,767 | ) | $ | (13,085 | ) | ||||||||
Fixed charges | 11,663 | 10,269 | 4,330 | 1,895 | 1,208 | |||||||||||||||
Less: capitalized interest | 1,638 | 1,190 | — | — | — | |||||||||||||||
Total | 19,714 | 27,182 | 11,657 | (25,872 | ) | (11,877 | ) | |||||||||||||
Fixed Charges | ||||||||||||||||||||
Interest expense on indebtedness and amortization of deferred financing costs | $ | 9,368 | $ | 7,980 | $ | 2,192 | $ | 5 | $ | 113 | ||||||||||
Interest component of rentals (1) | 2,295 | 2,289 | 2,138 | 1,890 | 1,095 | |||||||||||||||
Total | 11,663 | 10,269 | 4,330 | 1,895 | 1,208 | |||||||||||||||
Ratio of earnings to fixed charges | 1.69 | 2.65 | 2.69 | (13.65 | ) | (9.83 | ) | |||||||||||||
Excess (deficiency) of earnings available to cover fixed charges | $ | 8,051 | $ | 16,913 | $ | 7,327 | $ | (27,767 | ) | $ | (13,085 | ) | ||||||||
(1) Represents the estimated portion of operating lease rental expense that is considered by us to be representative of interest and amortization of discount related to indebtedness. | ||||||||||||||||||||