EX-12.1 7 a2205477zex-12_1.htm EX-12.1
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Exhibit 12.1


STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 
   Niska   Niska Predecessor  
 
    
   Year Ended March 31,   Period from
May 12, 2006
to March 31,
2007 		 
 
   Three Months
Ended
June 30, 2011 		 
 
   2011   2010   2009   2008  
 
   ($ in thousands)
  

Earnings:

                                      

Net earnings (loss) before income taxes

   $ (835 ) $ 27,403   $ 121,149   $ 96,949   $ 44,965   $ 41,358  

Less: capitalized interest

     (867 )   (2,018 )   (574 )   —     —     —  
 

Total earnings

     (1,702 )   25,385     120,575     96,949     44,965     41,358  

Fixed Charges:

                                      

Interest and debt expense

   $ 18,653   $ 77,007   $ 38,119   $ 53,486   $ 73,853   $ 60,188  

Capitalized interest

     867     2,018     574     —     —     —  

Portion of rentals representing an interest factor

     276     1,079     653     490     573     293  
 

Total fixed charges

     19,796     80,104     39,346     53,976     74,426     60,481  

Earnings (deficit) available for (applied to) fixed charges

  
$
18,094		  
$
105,489		  
$
159,921		  
$
150,925		  
$
119,391		  
$
101,839		  

Ratio of earnings to fixed charges

    
—
(1)		  
1.3x		    
4.1x		    
2.8x		    
1.6x		    
1.7x		  

Dollar amount of deficiency in earnings to fixed charges

   $ 1,702     —     —     —     —     —  
(1)
Ratio of earnings to fixed charges for this period was less than 1.0x.



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STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES