EX-12.1 9 d125677dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

STONEMOR PARTNERS L.P.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in thousands)

 

     Year Ended December 31,  
     2011     2012     2013     2014     2015  

Net income (loss)

   $ (9,715   $ (3,013   $ (19,032   $ (10,773   $ (24,244

Income tax expense (benefit)

     (4,019     (1,790     (2,304     3,913        1,108   

Total fixed charges

     21,385        21,687        21,768        21,996        23,032   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings

   $ 7,651      $ 16,884      $ 432      $ 15,136      $ (104

Interest and other financing costs, net

   $ 21,064      $ 21,405      $ 21,447      $ 21,610      $ 22,585   

Interest component of rental expense

     321        282        321        386        447   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

   $ 21,385      $ 21,687      $ 21,768      $ 21,996      $ 23,032   

Ratio of earnings to fixed charges

     —   (a)      —   (b)      —   (c)      —   (d)      —   (e) 

 

(a) Earnings were inadequate to cover fixed charges by $13.7 million for the year ended December 31, 2011.
(b) Earnings were inadequate to cover fixed charges by $4.8 million for the year ended December 31, 2012.
(c) Earnings were inadequate to cover fixed charges by $21.3 million for the year ended December 31, 2013.
(d) Earnings were inadequate to cover fixed charges by $6.9 million for the year ended December 31, 2014.
(e) Earnings were inadequate to cover fixed charges by $23.1 million for the year ended December 31, 2015.