EX-99.1 2 ex9912015calcofratioofearn.htm EXHIBIT 99.1 RATIO OF EARNS Exhibit


Exhibit 99.1
Triangle Capital Corporation
Computation of Ratio of Earnings to Fixed Charges
 
 
 
Year Ended
12/31/2011
 
Year Ended
12/31/2012
 
Year Ended
12/31/2013
 
Year Ended
12/31/2014
 
Year Ended
12/31/2015
Earnings:
 
 
 
 
 
 
 
 
 
 
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
56,771,037

 
$
60,063,517

 
$
81,211,880

 
$
28,362,448

 
$
47,857,252

Add back: Income Tax Expense (Benefit) and Excise Taxes
 
908,416

 
551,830

 
539,561

 
3,103,876

 
384,028

Add back: Fixed Charges
 
11,059,503

 
17,242,709

 
20,647,256

 
21,180,153

 
28,148,018

Total Earnings
 
$
68,738,956

 
$
77,858,056

 
$
102,398,697

 
$
52,646,477

 
$
76,389,298

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest and other financing fees
 
$
10,901,913

 
$
16,412,898

 
$
20,234,583

 
$
21,180,153

 
$
26,754,001

Loss on extinguishment of debt
 
157,590

 
829,811

 
412,673

 

 
1,394,017

Total Fixed Charges
 
$
11,059,503

 
$
17,242,709

 
$
20,647,256

 
$
21,180,153

 
$
28,148,018

Ratio of Earnings to Fixed Charges
 
6.22

 
4.52

 
4.96

 
2.49

 
2.71

Footnote disclosure:
Footnote (1) disclosure and calculation: 
 
 
Year Ended
12/31/2011
 
Year Ended
12/31/2012
 
Year Ended
12/31/2013
 
Year Ended
12/31/2014
 
Year Ended
12/31/2015
Earnings (excluding unrealized gains/losses):
 
 
 
 
 
 
 
 
 
 
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
56,771,037

 
$
60,063,517

 
$
81,211,880

 
$
28,362,448

 
$
47,857,252

Add back: Income Tax Expense (Benefit) and Excise Taxes
 
908,416

 
551,830

 
539,561

 
3,103,876

 
384,028

Add back: Fixed Charges
 
11,059,503

 
17,242,709

 
20,647,256

 
21,180,153

 
28,148,018

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

 
(2,215,673
)
 
44,162,962

 
(5,495,657
)
Total Earnings (excluding unrealized gains/losses)
 
$
62,371,483

 
$
80,736,071

 
$
100,183,024

 
$
96,809,439

 
$
70,893,641

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest and other financing fees
 
$
10,901,913

 
$
16,412,898

 
$
20,234,583

 
$
21,180,153

 
$
26,754,001

Loss on extinguishment of debt
 
157,590

 
829,811

 
412,673

 

 
1,394,017

Total Fixed Charges
 
$
11,059,503

 
$
17,242,709

 
$
20,647,256

 
$
21,180,153

 
$
28,148,018

Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges
 
5.64

 
4.68

 
4.85

 
4.57

 
2.52






Footnote (2) disclosure and calculation: 
 
 
Year Ended
12/31/2011
 
Year Ended
12/31/2012
 
Year Ended
12/31/2013
 
Year Ended
12/31/2014
 
Year Ended
12/31/2015
Earnings (excluding unrealized and realized gains/losses):
 
 
 
 
 
 
 
 
 
 
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
56,771,037

 
$
60,063,517

 
$
81,211,880

 
$
28,362,448

 
$
47,857,252

Add back: Income Tax Expense (Benefit) and Excise Taxes
 
908,416

 
551,830

 
539,561

 
3,103,876

 
384,028

Add back: Fixed Charges
 
11,059,503

 
17,242,709

 
20,647,256

 
21,180,153

 
28,148,018

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

 
(2,215,673
)
 
44,162,962

 
(5,495,657
)
Exclude: Realized (Gains) Losses
 
(10,973,487
)
 
(6,660,776
)
 
(18,419,544
)
 
(13,631,328
)
 
27,489,463

Total Earnings (excluding unrealized and realized gains/losses)
 
$
51,397,996

 
$
74,075,295

 
$
81,763,480

 
$
83,178,111

 
$
98,383,104

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest and other financing fees
 
$
10,901,913

 
$
16,412,898

 
$
20,234,583

 
$
21,180,153

 
$
26,754,001

Loss on extinguishment of debt
 
157,590

 
829,811

 
412,673

 

 
1,394,017

Total Fixed Charges
 
$
11,059,503

 
$
17,242,709

 
$
20,647,256

 
$
21,180,153

 
$
28,148,018

Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges
 
4.65

 
4.30

 
3.96

 
3.93

 
3.50