EX-12 2 c898-20161231xex12.htm EX-12 RATIO OF EARNINGS TO FIXED CHARGES Exhibit 12

Exhibit 12

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES









 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

  

 

Years Ended December 31,

In thousands, except ratios

 

2016

 

2015

 

2014

 

2013

 

2012

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

$

 —

 

$

 —

 

$

 —

 

$

 311 

 

$

 629 

Portion of rental expense representative of the interest factor (1)

 

 

 663 

 

 

 619 

 

 

 575 

 

 

 604 

 

 

 628 

Total Fixed Charges

 

$

 663 

 

$

 619 

 

$

 575 

 

$

 915 

 

$

 1,257 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (Loss) Before Tax:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before income taxes

 

$

 (21,452)

 

$

 (19,764)

 

$

 91,985 

 

$

 3,376 

 

$

 6,900 

Add: Total fixed charges

 

 

 663 

 

 

 619 

 

 

 575 

 

 

 915 

 

 

 1,257 

Less: Net income (loss) attributable to noncontrolling interests

 

 

 130 

 

 

 (415)

 

 

 (152)

 

 

 (193)

 

 

 (107)

Total Earnings Available for Fixed Charges

 

$

 (20,919)

 

$

 (18,730)

 

$

 92,712 

 

$

 4,484 

 

$

 8,264 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Fixed Charges(2)

 

 

 —

 

 

 —

 

 

 161.2 

 

 

 4.9 

 

 

 6.6 



(1)

For purposes of calculating fixed charges, an interest factor of one-third was applied to total rental expense.

(2)

Adjusted earnings for the years ended December 31, 2016 and 2015 were not sufficient to provide for fixed charges.