EX-12.1 3 a15-17435_1ex12d1.htm EX-12.1

Exhibit 12.1

 

 

 

Six Months

 

Twelve Months

 

Twelve Months

 

Twelve Months

 

Twelve Months

 

Twelve Months

 

 

 

Ended June 30,

 

Ended December 31,

 

Ended December 31,

 

Ended December 31,

 

Ended December 31,

 

Ended December 31,

 

 

 

2015

 

2014

 

2013

 

2012

 

2011

 

2010

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before taxes

 

$

(96,128,988

)

$

28,007,489

 

$

112,508,283

 

$

74,561,874

 

$

27,499,185

 

$

14,527,503

 

Plus: Fixed charges

 

30,853,424

 

49,804,885

 

23,811,098

 

5,156,267

 

4,625,832

 

26,920,407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) available for fixed charges

 

$

(65,275,564

)

$

77,812,374

 

$

136,319,381

 

$

79,718,141

 

$

32,125,017

 

$

41,447,910

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

 

 

Interst expense

 

28,705,780

 

46,446,830

 

21,972,436

 

4,132,955

 

4,017,230

 

26,920,407

 

Interest component of rental expense

 

2,147,645

 

3,358,055

 

1,838,662

 

1,023,312

 

608,602

 

—

 

Total fixed charges

 

$

30,853,424

 

$

49,804,885

 

$

23,811,098

 

$

5,156,267

 

$

4,625,832

 

$

26,920,407

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

—

(1)

1.6

 

5.7

 

15.5

 

6.9

 

1.5

 

 

(1) Earnings were inadequate to cover fixed charges for the six months ended June 30, 2015 by a deficiency of $96.1 million.