Years Ended December 31, | Three Months Ended March 31, | |||||||||||||||||||||||
2011 | 2012 | 2013 | 2014 | 2015 | 2016 | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||
(Loss) income before income taxes and cumulative effect of accounting change | $ | 53,969 | $ | 116,453 | $ | (27,568 | ) | $ | (10,168 | ) | $ | (314,019 | ) | $ | (67,637 | ) | ||||||||
Interest expense | 86,192 | 93,200 | 93,890 | 87,236 | 99,600 | 25,246 | ||||||||||||||||||
Loss on investment in equity investees in excess of distributed earnings | — | 361 | 958 | 6,094 | 7,928 | — | ||||||||||||||||||
Amortization of capitalized interest | 170 | 115 | 381 | 422 | 540 | 154 | ||||||||||||||||||
Loan cost amortization | 523 | 2,906 | 2,928 | 6,122 | 4,623 | 1,241 | ||||||||||||||||||
Earnings (loss) | $ | 140,854 | $ | 213,035 | $ | 70,589 | $ | 89,706 | $ | (201,328 | ) | $ | (40,996 | ) | ||||||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 86,192 | $ | 93,200 | $ | 93,890 | $ | 87,236 | $ | 99,600 | $ | 25,246 | ||||||||||||
Capitalized interest | 883 | 2,249 | 1,131 | 2,103 | 2,309 | 622 | ||||||||||||||||||
Loan cost amortization | 523 | 2,906 | 2,928 | 6,122 | 4,623 | 1,241 | ||||||||||||||||||
Fixed Charges | $ | 87,598 | $ | 98,355 | $ | 97,949 | $ | 95,461 | $ | 106,532 | $ | 27,109 | ||||||||||||
Ratio of Earnings to Fixed Charges | 1.6 | 2.2 | 0.7 | 0.9 | (1.9 | ) | (1.5 | ) | ||||||||||||||||
Insufficient Coverage | $ | — | $ | — | $ | 27,360 | $ | 5,755 | $ | 307,860 | $ | 68,105 | ||||||||||||