EX-12.1 4 gte-20161231xex121.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)

Our earnings were insufficient to cover fixed charges for the years ended December 31, 2016, 2015 and 2014. The following table sets forth our ratio of earnings to fixed charges for the years ended December 31, 2013 and 2012, and our deficiency of earnings available to cover fixed charges for the years ended December 31, 2016, 2015 and 2014.
 
Year Ended December 31,
 
2016
2015
2014
2013
2012
Fixed charges
 
 
 
 
 
Contractual interest and financing expenses
$
8,454

$
—

$
—

$
—

$
—

Amortization of debt issuance costs
5,691

—

—

—

—

Interest portion of rental expense
44

31

18

21

27

Total fixed charges
$
14,189

$
31

$
18

$
21

$
27

 
 
 
 
 
 
(Loss) income from continuing operations before tax
$
(650,234
)
$
(368,088
)
$
(17,134
)
$
309,284

$
196,349

Fixed charges per above
14,189

31

18

21

27

 
$
(636,045
)
$
(368,057
)
$
(17,116
)
$
309,305

$
196,376

 
 
 
 
 
 
Ratio of earnings to fixed charges
 
 
 
14,729

7,273

Deficiency of earnings available to cover fixed charges
$
(636,045
)
$
(368,057
)
$
(17,116
)