EX-99.1 2 ex991ratioofearnstofixed20.htm EXHIBIT 99.1 Ex 99.1 Ratio of Earns to Fixed 2015 June POS 8C


Exhibit 99.1
Triangle Capital Corporation
Computation of Ratio of Earnings to Fixed Charges
 
 
 
Year Ended
12/31/2010
 
Year Ended
12/31/2011
 
Year Ended
12/31/2012
 
Year Ended
12/31/2013
 
Year Ended
12/31/2014
 
Three Months Ended
3/31/2015
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
25,390,549

 
$
56,771,037

 
$
60,063,517

 
$
81,211,880

 
$
28,362,448

 
$
8,353,942

Add back: Income Tax Expense (Benefit) and Excise Taxes
 
220,740

 
908,416

 
551,830

 
539,561

 
3,103,876

 
137,875

Add back: Fixed Charges
 
8,147,006

 
11,059,503

 
17,242,709

 
20,647,256

 
21,180,153

 
6,432,455

Total Earnings
 
$
33,758,295

 
$
68,738,956

 
$
77,858,056

 
$
102,398,697

 
$
52,646,477

 
$
14,924,272

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest and other financing fees
 
$
7,782,380

 
$
10,901,913

 
$
16,412,898

 
$
20,234,583

 
$
21,180,153

 
$
6,432,455

Loss on extinguishment of debt
 
364,626

 
157,590

 
829,811

 
412,673

 

 

Total Fixed Charges
 
$
8,147,006

 
$
11,059,503

 
$
17,242,709

 
$
20,647,256

 
$
21,180,153

 
$
6,432,455

Ratio of Earnings to Fixed Charges
 
4.14

 
6.22

 
4.52

 
4.96

 
2.49

 
2.32

Footnote disclosure:
Footnote (1) disclosure and calculation: 
 
 
Year Ended
12/31/2010
 
Year Ended
12/31/2011
 
Year Ended
12/31/2012
 
Year Ended
12/31/2013
 
Year Ended
12/31/2014
 
Three Months Ended
3/31/2015
Earnings (excluding unrealized gains/losses):
 
 
 
 
 
 
 
 
 
 
 
 
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
25,390,549

 
$
56,771,037

 
$
60,063,517

 
$
81,211,880

 
$
28,362,448

 
$
8,353,942

Add back: Income Tax Expense (Benefit) and Excise Taxes
 
220,740

 
908,416

 
551,830

 
539,561

 
3,103,876

 
137,875

Add back: Fixed Charges
 
8,147,006

 
11,059,503

 
17,242,709

 
20,647,256

 
21,180,153

 
6,432,455

Exclude: Unrealized (Gains) Losses
 
(10,940,689
)
 
(6,367,473
)
 
2,878,015

 
(2,215,673
)
 
44,162,962

 
12,542,133

Total Earnings (excluding unrealized gains/losses)
 
$
22,817,606

 
$
62,371,483

 
$
80,736,071

 
$
100,183,024

 
$
96,809,439

 
$
27,466,405

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest and other financing fees
 
$
7,782,380

 
$
10,901,913

 
$
16,412,898

 
$
20,234,583

 
$
21,180,153

 
$
6,432,455

Loss on extinguishment of debt
 
364,626

 
157,590

 
829,811

 
412,673

 

 

Total Fixed Charges
 
$
8,147,006

 
$
11,059,503

 
$
17,242,709

 
$
20,647,256

 
$
21,180,153

 
$
6,432,455

Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges
 
2.80

 
5.64

 
4.68

 
4.85

 
4.57

 
4.27






Footnote (2) disclosure and calculation: 
 
 
Year Ended
12/31/2010
 
Year Ended
12/31/2011
 
Year Ended
12/31/2012
 
Year Ended
12/31/2013
 
Year Ended
12/31/2014
 
Three Months Ended
3/31/2015
Earnings (excluding unrealized and realized gains/losses):
 
 
 
 
 
 
 
 
 
 
 
 
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
25,390,549

 
$
56,771,037

 
$
60,063,517

 
$
81,211,880

 
$
28,362,448

 
$
8,353,942

Add back: Income Tax Expense (Benefit) and Excise Taxes
 
220,740

 
908,416

 
551,830

 
539,561

 
3,103,876

 
137,875

Add back: Fixed Charges
 
8,147,006

 
11,059,503

 
17,242,709

 
20,647,256

 
21,180,153

 
6,432,455

Exclude: Unrealized (Gains) Losses
 
(10,940,689
)
 
(6,367,473
)
 
2,878,015

 
(2,215,673
)
 
44,162,962

 
12,542,133

Exclude: Realized (Gains) Losses
 
5,478,873

 
(10,973,487
)
 
(6,660,776
)
 
(18,419,544
)
 
(13,631,328
)
 
(3,264,371
)
Total Earnings (excluding unrealized and realized gains/losses)
 
$
28,296,479

 
$
51,397,996

 
$
74,075,295

 
$
81,763,480

 
$
83,178,111

 
$
24,202,034

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest and other financing fees
 
$
7,782,380

 
$
10,901,913

 
$
16,412,898

 
$
20,234,583

 
$
21,180,153

 
$
6,432,455

Loss on extinguishment of debt
 
364,626

 
157,590

 
829,811

 
412,673

 

 

Total Fixed Charges
 
$
8,147,006

 
$
11,059,503

 
$
17,242,709

 
$
20,647,256

 
$
21,180,153

 
$
6,432,455

Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges
 
3.47

 
4.65

 
4.30

 
3.96

 
3.93

 
3.76