Year Ended December 31, | |||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||
(in thousands, except ratios) | |||||||||||||||
Pretax income from continuing operations | $ | (83,517 | ) | $ | 339,001 | $ | 314,896 | $ | (159,464 | ) | $ | 144,736 | |||
Add: Fixed charges | 77,841 | 58,030 | 29,558 | 31,702 | 32,604 | ||||||||||
Add: Amortization of capitalized interest | 9,095 | 5,107 | 2,991 | 2,697 | 2,387 | ||||||||||
Less: Capitalized interest | (12,135 | ) | (10,785 | ) | (4,337 | ) | (1,902 | ) | (4,668 | ) | |||||
Earnings before fixed charges | $ | (8,716 | ) | $ | 391,353 | $ | 343,108 | $ | (126,967 | ) | $ | 175,059 | |||
Fixed charges: | |||||||||||||||
Interest expense (1) | 63,720 | 45,849 | 24,196 | 28,856 | 26,950 | ||||||||||
Capitalized interest | 12,135 | 10,785 | 4,337 | 1,902 | 4,668 | ||||||||||
Interest expense component of rent (2) | 1,986 | 1,396 | 1,025 | 944 | 986 | ||||||||||
Total fixed charges | $ | 77,841 | $ | 58,030 | $ | 29,558 | $ | 31,702 | $ | 32,604 | |||||
Ratio of earnings to fixed charges | — | 6.7 | 11.6 | — | 5.4 | ||||||||||
Insufficient coverage | $ | 86,557 | $ | — | $ | — | $ | 158,669 | $ | — | |||||