EX-12.1 7 a18-8166_1ex12d1.htm EX-12.1

Exhibit 12.1

 

CALCULATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES AND

CONSOLIDATED RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDENDS

 

(dollars in thousands)

 

 

 

12/31/2013

 

12/31/2014

 

12/31/2015

 

12/31/2016

 

12/31/2017

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

1,647

 

$

2,350

 

$

22,026

 

$

75

 

$

2

 

Interest expense on portion of rent expense representative of interest

 

282

 

286

 

287

 

421

 

421

 

Total Fixed Charges

 

$

1,929

 

$

2,636

 

$

22,313

 

$

496

 

$

423

 

Earnings (loss):

 

 

 

 

 

 

 

 

 

 

 

Net Income (loss) from continuing operations

 

$

17,065

 

$

(14,222

)

$

(46,964

)

$

(54,890

)

$

(74,356

)

Fixed charges per above

 

1,929

 

2,636

 

22,313

 

496

 

423

 

Total earnings (loss)

 

18,994

 

(11,586

)

(24,651

)

(54,394

)

(73,933

)

Ratio of earnings to fixed charges

 

$

8.85

 

$

N/A

 

$

N/A

 

$

N/A

 

$

N/A

 

Deficiency of earnings available to cover fixed charges

 

$

17,065

 

$

(14,222

)

(46,964

)

(54,890

)

(74,356

)

Preferred share dividend requirements

 

$

—

 

$

—

 

$

1,723

 

$

—

 

$

—

 

Total combined fixed charges and preferred share dividends

 

$

1,929

 

$

2,636

 

$

24,035

 

$

496

 

$

423

 

Ratios of earnings to combined fixed charges and preferred share dividends

 

8.85

 

N/A

 

N/A

 

N/A

 

N/A

 

Deficiency of earnings available to cover fixed charges and preferred share dividend requirements

 

$

17,065

 

$

(14,222

)

$

(48,687

)

$

(54,890

)

$

(74,356

)