EX-12 3 d580215dex12.htm EX-12 EX-12

Exhibit 12

Casella Waste Systems, Inc.

Statement of Computation of Consolidated Ratios of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(in thousands, except ratios)

 

     Three Months
Ended
March 31,
2018
    Fiscal Year Ended
December 31,
    Eight Months
Ended
December 31,
2014
    Fiscal Year Ended
April 30,
 
       2017     2016     2015       2014     2013  

Loss from continuing operations before income taxes, discontinued operations and cumulative effect of change in accounting principle

   $ (5,498   $ (37,052   $ (6,364   $ (10,430   $ (5,107   $ (25,511   $ (52,509

Loss from equity method investments

     —         —         —         —         —         936       4,441  

Fixed charges

     7,686       30,249       43,784       44,667       28,118       41,149       44,394  

Less: interest capitalized

     (7     (295     (273     (62     (333     (256     (368
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings

   $ 2,181     $ (7,098   $ 37,147     $ 34,175     $ 22,678     $ 16,318     $ (4,042
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Interest expense (includes amortization of any premium, discount and deferred financing costs)

   $ 6,454     $ 25,160     $ 38,942     $ 40,420     $ 25,639     $ 38,175     $ 41,570  

Estimate of interest within rental expense

     1,225       4,794       4,569       4,185       2,146       2,718       2,456  

Interest capitalized

     7       295       273       62       333       256       368  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

   $ 7,686     $ 30,249     $ 43,784     $ 44,667     $ 28,118     $ 41,149     $ 44,394  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated ratio of earnings to fixed charges

     —         —         —         —         —         —         —    

Deficiency of earnings to fixed charges

   $ (5,505   $ (37,347   $ (6,637   $ (10,492   $ (5,440   $ (24,831   $ (48,436

Fixed charges from above

   $ 7,686     $ 30,249     $ 43,784     $ 44,667     $ 28,118     $ 41,149     $ 44,394  

Preferred stock dividends

     —         —         —         —         —         —         —    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Combined fixed charges and preferred stock dividends

   $ 7,686     $ 30,249     $ 43,784     $ 44,667     $ 28,118     $ 41,149     $ 44,394  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Consolidated ratio of earnings to combined fixed charges and preferred stock dividends

     —         —         —         —         —         —         —    

Deficiency of earnings to combined fixed charges and preferred stock dividends

   $ (5,505   $ (37,347   $ (6,637   $ (10,492   $ (5,440   $ (24,831   $ (48,436