Exhibit 12.1

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

											Three months ended
	Year Ended December 31,										March 31,
(in thousands)	2009		2010		2011		2012		2013		2014
Computation of Earnings:
Pre-tax earnings from continuing operations, excluding equity in earnings of unconsolidated affiliates	$	206,128	$	208,240	$	222,654	$	262,222	$	305,376	$	72,632
Plus: Fixed charges		9,821		15,636		17,813		19,686		32,542		7,708
Plus: Amortization of capitalized interest		148		142		121		115		91		22
Plus: Distributed earnings from equity investees		—		—		800		1,830		3,073		90
Less: Capitalized interest		66		54		85		43		24		—
Earnings	$	216,031	$	223,964	$	241,303	$	283,810	$	341,058	$	80,452
Fixed Charges:
Interest expense and amortization of deferred financing costs on all indebtedness	$	7,751	$	13,471	$	15,327	$	16,967	$	29,538	$	6,963
Capitalized interest		66		54		85		43		24		—
Estimate of interest component of rental expenses		2,004		2,111		2,401		2,676		2,980		745
Fixed charges	$	9,821	$	15,636	$	17,813	$	19,686	$	32,542	$	7,708
		22.0		14.3		13.5		14.4		10.5		10.4
Pro Forma Adjustments:
Fixed Charges from above										32,542		7,708
Estimated net increase in interest and amortization expense from the New Term Loan Facility and Debt Securities										100,784		25,555
Estimated dividends paid for 5.250% Mandatory Convertible Preferred Stock, Series A-1										7,875		1,969
Total Pro Forma fixed charges										141,201		35,232
Earnings from above										341,058		80,452
Pro Forma Sheridan Earnings										34,833		2,743
Pro Forma Fixed Charges										141,201		35,232
Total Pro Forma Earnings										517,091		118,427
Pro Forma Ratio of earnings to fixed charges (a)										3.7x		3.4x

(a) In calculating this pro forma ratio, as adjusted, of earnings to combined fixed charges and preferred stock dividends, we have assumed that (i) the shares of 5.250% Mandatory Convertible Preferred Stock, Series A-1 were issued on January 1, 2013, and (ii) the New Term Loan Facility and Debt Securities were issued on January 1, 2013. For purposes of this pro forma calculation, we have assumed the repayment of outstanding borrowings under our revolving credit facility and our Senior Secured Notes due 2020 with the combined net proceeds from this offering and the Debt Securities Offering (or a portion of such borrowings, to the extent such borrowings exceeded the combined net proceeds from both offerings). Therefore, the pro forma ratio, as adjusted, reflects the effects of additional preferred stock dividends, additional interest expense that would have been incurred on the New Term Loan Facility and Debt Securities and lower interest expense resulting from the assumed repayment of borrowings under our revolving credit facility and our Senior Secured Notes due 2020 to the extent of the combined net proceeds from both offerings.