EX-12.1 4 a2222226zex-12_1.htm EX-12.1

Exhibit 12.1

 

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

 

 

Niska

 

 

 

 

 

 

 

 

 

 

 

 

 

Predecessor

 

Niska

 

 

 

Year Ended March 31,

 

Six Months
Ended
September 30,

 

 

 

2010

 

2011 (1)

 

2012

 

2013

 

2014

 

2014

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss) before income taxes

 

$

121,149

 

$

27,403

 

$

(185,459

)

$

(62,543

)

$

(19,213

)

$

(64,043

)

Less: capitalized interest

 

(574

)

(2,018

)

(4,077

)

(2,928

)

—

 

—

 

Total earnings (loss)

 

120,575

 

25,385

 

(189,536

)

(65,471

)

(19,213

)

(64,043

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and debt expense

 

$

38,119

 

$

77,007

 

$

74,630

 

$

67,010

 

$

66,315

 

$

25,047

 

Capitalized interest

 

574

 

2,018

 

4,077

 

2,928

 

—

 

—

 

Portion of rentals representing an interest factor

 

653

 

1,079

 

4,957

 

3,742

 

3,980

 

2,114

 

Total fixed charges

 

39,346

 

80,104

 

83,664

 

73,680

 

70,295

 

27,161

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

159,921

 

105,489

 

(105,872

)

8,209

 

51,082

 

(36,882

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

4.1x

 

1.3x

 

-1.3x

 

0.1x

 

0.7x

 

-1.4x

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dollar amount (in thousands) of deficiency in earnings to fixed charges

 

—

 

—

 

(105,872

)

—

 

—

 

(36,882

)

 

(1)                                 Represents data from Niska Predecessor for the period from April 1, 2010 to May 16, 2010 and data from Niska for the period from May 17, 2010 to March 31, 2011.