EX-12.1 4 exhibit121s3.htm EXHIBIT 12.1 Exhibit 12.1 S3


EXHIBIT 12.1
PERFORMANT FINANCIAL CORPORATION
STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
 
Year Ended December 31
 
Nine Months Ended September 30, 2014
 
2009
 
2010
 
2011
 
2012
 
2013
 
Income before provision for income taxes
$
8,081

 
$
16,639

 
$
19,888

 
$
39,737

 
$
61,306

 
$
20,378

Add:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges
16,653

 
15,875

 
14,175

 
16,906

 
12,418

 
8,476

Earnings available for fixed charges
$
24,734

 
$
32,514

 
$
34,063

 
$
56,643

 
$
73,724

 
$
28,854

 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense
$
16,017

 
$
15,230

 
$
13,530

 
$
12,414

 
$
11,564

 
$
7,766

Debt financing expense
—

 
—

 
—

 
3,679

 
—

 
—

Estimated interest portion of rental expense
637

 
644

 
645

 
813

 
855

 
710

Total fixed charges(2)
$
16,653

 
$
15,875

 
$
14,175

 
$
16,906

 
$
12,418

 
$
8,476

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges(1)
1.49

 
2.05

 
2.40

 
3.35

 
5.94

 
3.40


(1)    The ratio of earnings to fixed charges is computed by dividing earnings before taxes plus fixed charges by fixed charges. Fixed charges consist of interest expense, debt financing expense and the estimated portion of rental expense deemed by us to be representative of the interest factor of rental payments under operating leases.
(2)    The sum of the interest expense, the debt financing expense (if any), and the estimated portion of interest expense of rental expense may not equal the total fixed charges due to rounding.