EX-12.1 2 ex12-1.htm EXHIBIT 12.1 ex12-1.htm

Exhibit 12.1

 

Providence Service Corporation

Ratio of Earnings to Fixed Charges

 

   

For the Years

 
   

Ended December 31,

 
   

2011

   

2012

   

2013

   

2014

   

2015

 
 

(in thousands, except ratios)

Earnings:

                                       

Pre-tax income (loss) from continuing operations before adjustment for loss from equity investee

  $ 2,144     $ (1,868 )   $ 19,730     $ 32,007     $ 8,640  

Add: Fixed charges

    14,447       12,818       12,330       24,141       43,668  

Less: Noncontrolling interest in pre-tax income (loss) of subsidiaries that have not incurred fixed charges

    -       -       -       -       (502 )

Earnings

  $ 16,591     $ 10,950     $ 32,060     $ 56,148     $ 52,810  

Fixed charges:

                                       

Interest expense

  $ 10,199     $ 7,636     $ 7,032     $ 13,328     $ 16,832  

Interest element of rentals

    4,248       5,182       5,298       10,813       22,901  

Preferred dividend

    -       -       -       -       3,935  

Fixed charges

  $ 14,447     $ 12,818     $ 12,330     $ 24,141     $ 43,668  

Ratio of earnings to fixed charges

    1.15       0.85       2.60       2.33       1.21