Year Ended December 31, | |||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 (1) | |||||||||||||||
(In thousands) | |||||||||||||||||||
Earnings (loss) before income taxes | $ | 63,672 | $ | 68,055 | $ | (42,632 | ) | $ | (50,214 | ) | $ | (25,579 | ) | ||||||
Add: | |||||||||||||||||||
Interest expense and other financing costs | 23,107 | 2,374 | 322 | 40 | 16 | ||||||||||||||
Amortization of capitalized interest | — | — | — | — | — | ||||||||||||||
Interest component of rental expense | 2,840 | 2,708 | 1,985 | 1,915 | 1,926 | ||||||||||||||
Earnings as adjusted | $ | 89,619 | $ | 73,137 | $ | (40,325 | ) | $ | (48,259 | ) | $ | (23,637 | ) | ||||||
Fixed charges: | |||||||||||||||||||
Interest expense and other financing costs | $ | 23,107 | $ | 2,374 | $ | 322 | $ | 40 | $ | 16 | |||||||||
Capitalized interest | — | — | — | — | — | ||||||||||||||
Interest component of rental expense | 2,840 | 2,708 | 1,985 | 1,915 | 1,926 | ||||||||||||||
Fixed charges | $ | 25,947 | $ | 5,082 | $ | 2,307 | $ | 1,955 | $ | 1,942 | |||||||||
Ratio of earnings to fixed charges | 3.45 | 14.39 | — | — | — | ||||||||||||||
Coverage deficiency | $ | — | $ | — | $ | 42,632 | $ | 50,214 | $ | 25,579 | |||||||||
(1) | Earnings (loss) before income taxes and interest expense for the year ended December 31, 2011 have been adjusted to exclude interest expense of $9.8 million that Western historically allocated to the Wholesale segment. |