EX-12.1 2 a2233306zex-12_1.htm EX-12.1
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Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
PREFERRED SHARE DIVIDENDS

 
  Successor   Predecessor  
(in thousands, except for ratio amounts presented)
  Six Months
Ended
June 30,
2017
  October 11,
2016
through
December 31,
2016
  January 1,
2016
through
October 10,
2016
  Year Ended
December 31,
2015
  Year Ended
December 31,
2014
 

Earnings:

                               

Income (loss) before income taxes

  $ 42,974   $ (8,985 ) $ (219,130 ) $ (38,897 ) $ 19,312  

Add: Fixed charges

  $ 1,191   $ 403   $ 5,695   $ 6,349   $ 2,553  

Total Earnings Available for Fixed Charges

  $ 44,165   $ (8,582 ) $ (213,435 ) $ (32,584 ) $ 21,865  

Fixed Charges:

                               

Interest Expense

  $ 903   $ 308   $ 5,302   $ 5,784   $ 2,159  

Amortized Premiums, Discounts and Debt Issue Costs

    214     70     323     482     316  

Estimate of Interest Within Rental Expense

    74     25     69     83     78  

Total Fixed Charges

  $ 1,191   $ 403   $ 5,695   $ 6,349   $ 2,553  

Ratio of Earnings to Fixed Charges

    37.09     —(1 )   —(2 )   —(3 )   8.56  

Preferred Stock Dividend Requirements

                     

Total Fixed Charges Plus Preferred Stock Dividends

  $ 1,191   $ 403   $ 5,695   $ 6,349   $ 2,553  

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

    37.09     —(1 )   —(2 )   —(3 )   8.56  

(1)
Earnings for the period from October 11, 2016, through December 31, 2016 (Successor) were insufficient to cover fixed charges by approximately $9.0 million.

(2)
Earnings for the period from January 1, 2016, through October 10, 2016 (Predecessor) were insufficient to cover fixed charges by approximately $219.1 million.

(3)
Earnings for the year ended December 31, 2015 were insufficient to cover fixed charges by approximately $38.9 million.



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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS