EX-12.1 2 gst-ex121_14.htm EX-12.1 gst-ex121_14.htm

Exhibit 12.1

 

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS

TO FIXED CHARGES

(Unaudited)

 

 

 

For the Years Ended December 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

 

(in thousands, except ratios)

 

Earnings (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(89,061

)

 

$

(459,507

)

 

$

50,953

 

 

$

49,342

 

 

$

(153,791

)

Add: Fixed Charges

 

 

38,522

 

 

 

34,796

 

 

 

32,138

 

 

 

16,598

 

 

 

2,340

 

Add: Amortization of capitalized interest

 

 

1,389

 

 

896

 

 

 

594

 

 

 

883

 

 

 

7,119

 

Less: Interest capitalized

 

 

(3,103

)

 

 

(3,879

)

 

 

(4,347

)

 

 

(3,284

)

 

 

(1,946

)

Net income (loss), as adjusted

 

$

(52,253

)

 

$

(427,694

)

 

$

79,338

 

 

$

63,539

 

 

$

(146,278

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total interest expensed

 

$

33,368

 

 

$

30,981

 

 

$

28,851

 

 

$

14,130

 

 

$

1,992

 

Amortization of financing costs

 

 

4,981

 

 

 

3,584

 

 

 

3,067

 

 

 

2,322

 

 

 

224

 

Estimated interest portion of operating leases

 

 

173

 

 

 

231

 

 

 

220

 

 

 

146

 

 

 

124

 

Total fixed charges

 

$

38,522

 

 

$

34,796

 

 

$

32,138

 

 

$

16,598

 

 

$

2,340

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges and Fixed Charge Ratio:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (deficiency) to fixed charges

 

$

(90,775

)

 

$

(462,490

)

 

$

47,200

 

 

$

46,941

 

 

$

(148,618

)

Earnings to fixed charges ratio

 

 

—

 

 

 

—

 

 

2.5x

 

 

3.8x

 

 

 

—