EX-12.1 6 ex12-1.htm RATIO OF EARNINGS TO FIXED CHARGES AND OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

Exhibit 12.1

 

RATIO OF EARNINGS TO FIXED CHARGES AND OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

 

                         
   Six Months                     
   Ended                     
   June 30,   Year Ended December 31, 
   2017   2016   2015   2014   2013   2012 
Income (loss) from continuing operations before adjustment                              
     for non controlling interest   (6,275)   (39,288)   (48,665)   (18,429)   (3,472)   (2,167)
Add back:   5,743    40,679    44,676    13,279         
Fixed Charges                        
Distributed income of equity investees                        
Deduct:                        
Equity in (earnings) loss of equity investees       (230)   85    (175)   589    93 
Capitalized interest                        
Earnings as Defined   (532)   1,161    (3,904)   (5,325)   (2,883)   (2,074)
                               
Fixed Charges                              
Interest including amortization of deferred                              
      financing fees   5,743    40,679    44,676    13,279         
Capitalized interest                        
Interest portion of rent expense                        
Fixed Charges   5,743    40,679    44,676    13,279         
Ratio of Earnings to Fixed Charges   (a)    (a)    (a)    (a)    (a)    (a) 
Preferred dividends                        
Combined Fixed Charges and Preferred Dividends   5,743    40,679    44,676    13,279         
Ratio of Earnings to Combined Fixed Charges and   -0.09    0.03    -0.09    -0.40           
    Preferred Dividends    (b)     (b)    (b)     (b)     (b)     (b) 

 

             
(a) Due to the loss from continuing operations, the ratio coverage was less than 1:1 for the six months ended June 30, 2017 and the years ended December 31, 2016, 2015, 2014, 2013 and 2012. We would have needed to generate additional earnings from continuing operations of $6.3 million, $39.5 million, $48.6 million, $18.6 million, $2.9 million and $2.1 million for the six months ended June 30, 2017, and the years ended December 31, 2016, 2015, 2014, 2013 and 2012, respectively to acheive a coverage ratio of 1:1.
             
(b) Due to the loss from continuing operations, the ratio coverage was less than 1:1 for the six months ended June 30, 2017 and the years ended December 31, 2016, 2015, 2014, 2013 and 2012. We would have needed to generate additional earnings from continuing operations of $6.3 million, $39.5 million, $48.6 million, $18.6 million, $2.9 million and $2.1 million for the six months ended June 30, 2017, and the years ended December 31, 2016, 2015, 2014, 2013 and 2012, respectively to achieve a coverage ratio of 1:1.