EX-12.01 2 ai-ex1201_11.htm EX-12.01 ai-ex1201_11.htm

Exhibit 12.01

Computation of Ratio of Earnings to Fixed Charges

(dollars in thousands)

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ended

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

 

Year Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

2011

 

Pre-tax (loss) income from continuing operations

   adjusted to exclude income or loss from equity

   investees

 

$

(29,154

)

 

$

(32,403

)

 

$

55,189

 

 

$

14,253

 

 

$

30,788

 

 

$

16,753

 

Distributed income of equity investees

 

 

19

 

 

 

1,628

 

 

 

413

 

 

 

90

 

 

 

384

 

 

 

266

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense and amortization of debt discount

   and premium on all indebtedness

 

 

13,396

 

 

 

18,889

 

 

 

11,391

 

 

 

8,529

 

 

 

4,965

 

 

 

2,508

 

Rentals

 

 

44

 

 

 

92

 

 

 

83

 

 

 

81

 

 

 

88

 

 

 

58

 

Total fixed charges

 

$

13,440

 

 

$

18,981

 

 

$

11,474

 

 

$

8,610

 

 

$

5,053

 

 

$

2,566

 

Pre-tax (loss) income from continuing operations

   adjusted to exclude income or loss from equity

   investees plus fixed charges and distributed income

   of equity investees

 

$

(15,695

)

 

$

(11,794

)

 

$

67,076

 

 

$

22,953

 

 

$

36,225

 

 

$

19,585

 

Ratio of earnings to fixed charges

 

(A)

 

 

(A)

 

 

 

5.8

 

 

 

2.7

 

 

 

7.2

 

 

 

7.6

 

 

(A)

Due to the Company’s loss for the six months ended June 30, 2016 and the year ended December 31, 2015, the ratio coverage in those periods was less than 1:1. The Company would have had to generate additional earnings of $29,135 and $30,775 for the six months ended June 30, 2016 and the year ended December 31, 2015, respectively, to achieve coverage of 1:1 in those periods.