EX-12 9 mdca-20151231xex12.htm EXHIBIT 12 Exhibit
Exhibit 12
Statement of Computation of Ratio of Earnings to Fixed Charges


 
 
 
 
 
 
 
 
 
 
 
Twelve Months Ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
Income (Loss) from continuing operations attributable to MDC Partners Inc.
$
(31,076
)
 
$
(2,797
)
 
$
(139,663
)
 
$
(80,311
)
 
$
(82,315
)
Additions:
 
 
 
 
 
 
 
 
 
Income taxes (recovery)
5,664

 
12,422

 
(4,367
)
 
9,553

 
41,735

Noncontrolling interest in earnings of consolidated subsidiaries
9,054

 
6,890

 
6,461

 
6,863

 
8,429

Fixed charges, as shown below
73,184

 
69,001

 
113,188

 
55,453

 
50,006

Distributions received from equity-method investees
652

 
726

 
3,096

 
1,288

 
4,584

 
88,554

 
89,039

 
118,378

 
73,157

 
104,754

Subtractions:
 
 
 
 
 
 
 
 
 
Equity in income (loss) of nonconsolidated affiliates
1,058

 
1,406

 
281

 
633

 
213

Noncontrolling interest in earnings of consolidated subsidiaries that have not incurred fixed charges
—

 
—

 
—

 
—

 
—

 
1,058

 
1,406

 
281

 
633

 
213

Earnings (loss) as adjusted
56,420

 
84,836

 
(21,566
)
 
(7,787
)
 
22,226

Fixed charges:
 
 
 
 
 
 
 
 
 
Interest on indebtedness, expensed or capitalized
55,633

 
53,018

 
92,936

 
42,003

 
39,621

Amortization of debt discount and expense and premium on indebtedness, expensed or capitalized
2,270

 
2,247

 
7,762

 
2,249

 
2,175

Interest within rent expense
15,281

 
13,736

 
12,490

 
11,201

 
8,210

Total fixed charges
$
73,184

 
$
69,001

 
$
113,188

 
$
55,453

 
$
50,006

Ratio of earnings to fixed charges
N/A

 
1.23

 
N/A

 
N/A

 
N/A

Dollar amount deficiency
$
16,764

 
N/A

 
$
134,754

 
$
63,240

 
$
27,780