Exhibit

Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES AND OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDENDS

The following table sets forth our ratio of earnings to fixed charges and of earnings to combined fixed charges and preferred share dividends for each of the periods indicated:



	Three Month Period Ended March 31, 2017	Fiscal Years Ended December 31,
	Three Month Period Ended March 31, 2017	2016	2015	2014	2013	2012
Ratio of Earnings to Fixed Charges⁽¹⁾	3.56x	0.01x⁽²⁾	4.16x	7.01x	8.19x	13.46x
Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends⁽¹⁾	3.56x	0.01x⁽²⁾	4.16x	7.01x	8.19x	13.46x


(1)	Fixed charges consist of interest expense for the three month period ended March 31, 2017 and for the fiscal years ended December 31, 2016, 2015, 2014, 2013, and 2012.


(2)	For the year ended December 31, 2016, our earnings were insufficient to cover fixed charges at a 1:1 ratio by $16.1 million.

We computed the ratio of earnings to fixed charges by dividing earnings by fixed charges. We computed the ratio of earnings to combined fixed charges and preferred share dividends by dividing earnings by the sum of fixed charges and dividends on outstanding preferred shares. In each case, earnings represent an increase (decrease) in shareholders' equity resulting from operations plus fixed charges and preferred share dividends, if any. Fixed charges include interest expense. During the periods presented in the table above, no preferred shares were outstanding.