Exhibit 12.1
|
|
|
Nine Months |
|
Year Ended |
| ||
|
|
|
2017 |
|
2016 |
| ||
|
|
|
(in millions) |
| ||||
|
Combined Fixed Charges and Preference Dividends: |
|
|
|
|
| ||
|
|
|
|
|
|
| ||
|
Interest expense, net of amounts capitalized |
|
$ |
92,497 |
|
$ |
118,583 |
|
|
Capitalized interest |
|
$ |
4,493 |
|
$ |
3,738 |
|
|
Estimated of interest expense within rental expense |
|
$ |
21,074 |
|
$ |
28,133 |
|
|
Preference dividends |
|
$ |
6,768 |
|
$ |
9,025 |
|
|
Total Combined Fixed Charges and Preference Dividends |
|
$ |
124,832 |
|
$ |
159,479 |
|
|
|
|
|
|
|
| ||
|
Earnings as defined: |
|
|
|
|
| ||
|
|
|
|
|
|
| ||
|
Pretax income (loss) from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
|
$ |
(295,261 |
) |
$ |
(183,163 |
) |
|
Fixed charges |
|
$ |
124,832 |
|
$ |
159,479 |
|
|
Amortization of capitalized interest |
|
$ |
2,262 |
|
$ |
2,591 |
|
|
Distributed income of equity investees |
|
$ |
— |
|
$ |
— |
|
|
Share of pretax losses of equity investees for which charges arising from guarantees are included in fixed charges |
|
$ |
— |
|
$ |
— |
|
|
Interest capitalized |
|
$ |
4,493 |
|
$ |
3,738 |
|
|
Preference dividends of consolidated subsidiaries |
|
$ |
— |
|
$ |
— |
|
|
Minority interest in pretax income of subsidiaries that have not incurred fixed charges |
|
$ |
(92,082 |
) |
$ |
(32,010 |
) |
|
Total of Earnings |
|
$ |
(80,578 |
) |
$ |
7,179 |
|
|
|
|
|
|
|
| ||
|
Ratio of Combined Fixed Charges and Preference Dividends to Earnings |
|
(1.5 |
) |
22.2 |
| ||