EX-12.1 3 a16-5973_1ex12d1.htm EX-12.1

Exhibit 12.1

 

 

 

Twelve Months

 

Twelve Months

 

Twelve Months

 

Twelve Months

 

Twelve Months

 

 

 

Ended December 31,

 

Ended December 31,

 

Ended December 31,

 

Ended December 31,

 

Ended December 31,

 

 

 

2015

 

2014

 

2013

 

2012

 

2011

 

Earnings

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations before taxes

 

$

(910,441,000

)

$

28,007,489

 

$

112,508,283

 

$

74,561,874

 

$

27,499,185

 

Plus: Fixed charges

 

61,087,987

 

49,804,885

 

23,811,098

 

5,156,267

 

4,625,832

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) available for fixed charges

 

$

(849,353,013

)

$

77,812,374

 

$

136,319,381

 

$

79,718,141

 

$

32,125,017

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

57,052,193

 

46,446,830

 

21,972,436

 

4,132,955

 

4,017,230

 

Interest component of rental expense

 

4,035,794

 

3,358,055

 

1,838,662

 

1,023,312

 

608,602

 

Total fixed charges

 

$

61,087,987

 

$

49,804,885

 

$

23,811,098

 

$

5,156,267

 

$

4,625,832

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

—(1)

 

1.6

 

5.7

 

15.5

 

6.9

 

 

(1)         Earnings were inadequate to cover fixed charges for the year ended December 31, 2015 by a deficiency of $910.4 million.