Exhibit 12.1
| Fiscal Year Ended December 31, | ||||||||||||||||||||
| (in thousands) |
2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
| Earnings: |
||||||||||||||||||||
| Pretax income (loss) from continuing operations |
$ | 23,496 | $ | (244,188 | ) | $ | (163,940 | ) | $ | (75,874 | ) | $ | (52,561 | ) | ||||||
| Plus: Fixed charges |
269,424 | 245,469 | 202,734 | 93,751 | 28,586 | |||||||||||||||
| Plus: Amortization of capitalized interest |
4,688 | 1,363 | — | — | — | |||||||||||||||
| Less: Interest capitalized |
(26,129 | ) | (98,333 | ) | (83,374 | ) | (26,499 | ) | (6,096 | ) | ||||||||||
| 271,479 | (95,689 | ) | (44,580 | ) | (8,622 | ) | (30,071 | ) | ||||||||||||
| Fixed Charges: |
||||||||||||||||||||
| Interest expense on indebtedness |
243,295 | 147,136 | 119,360 | 67,252 | 22,490 | |||||||||||||||
| Interest capitalized |
26,129 | 98,333 | 83,374 | 26,499 | 6,096 | |||||||||||||||
| Total fixed charges |
$ | 269,424 | $ | 245,469 | $ | 202,734 | $ | 93,751 | $ | 28,586 | ||||||||||
| Ratio of earnings to fixed charges |
1.01x | — | — | — | — | |||||||||||||||
| Coverage deficiency |
— | $ | (341,158 | ) | $ | (247,314 | ) | $ | (102,373 | ) | $ | (58,657 | ) | |||||||