EX-12.1 2 v384240_exh12x1.htm EXHIBIT 12.1

Exhibit 12.1

Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)

           
  Six Months Ended June 30, 2014   Year Ended December 31,
     2013   2012   2011   2010   2009
Pre-tax income from continuing operations adjusted to exclude income or loss from equity investees   $ 42,391     $ 14,253     $ 30,788     $ 16,753     $ 27,087     $ 140,981  
Distributed income of equity investees     41       90       384       266       222       326  
Fixed charges:
                                                     
Interest expense and amortization of debt discount and premium on all indebtedness     4,961       8,529       4,965       2,508       1,155       3,645  
Rentals     41       81       88       58       54       77  
Total fixed charges   $ 5,002     $ 8,610     $ 5,053     $ 2,566     $ 1,209     $ 3,722  
Pre-tax income from continuing operations adjusted to exclude income or loss from equity investees plus fixed charges and distributed income of equity investees   $ 47,434     $ 22,953     $ 36,225     $ 19,585     $ 28,518     $ 145,029  
Ratio of earnings to fixed charges     9.5       2.7       7.2       7.6       23.6       39.0