EX-12.1 3 d422662dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. Statement of Computation of Ratio of Earnings to Fixed Charges.

Exhibit 12.1

Casella Waste Systems, Inc.

Statement of Computation of Ratio of Earnings to Fixed Charges and Earnings to Combined Fixed

Charges and Preferred Stock Dividends

(in thousands, except ratios)

 

     Fiscal Year Ended April 30,  
     2012     2011     2010     2009     2008  

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

    $ (77,136 )    $ (27,921 )    $ (13,807 )    $ (65,871 )    $ (14,655 ) 

Loss from equity method investments

      9,994        4,096        2,690        2,157        6,077   

Impairment or equity method investment

      10,680        —          —          —          —     

Fixed charges

      48,087        48,676        46,411        35,673        35,721   

Less: interest capitalized

      (407 )      (1,078 )      (349 )      (214 )      (1,275 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings

    $ (8,782 )    $ 23,773      $ 34,945      $ (28,255 )    $ 25,868   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Interest expense (includes amortization of premium and discounts and deferred financing charges)

    $ 45,541      $ 45,912      $ 44,375      $ 33,840      $ 33,282   

Estimate of interest within rental expense

      2,139        1,686        1,687        1,619        1,164   

Interest capitalized

      407        1,078        349        214        1,275   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges

    $ 48,087      $ 48,676      $ 46,411      $ 35,673      $ 35,721   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      —          —          —          —          —     

Deficiency of earnings to fixed charges

    $ (56,869 )    $ (24,903 )    $ (11,466 )    $ (63,928 )    $ (9,853 ) 

Fixed charges from above

    $ 48,087      $ 48,676      $ 46,411      $ 35,673      $ 35,721   

Preferred stock dividends

      —          —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Combined fixed charges and preferred stock dividends

    $ 48,087      $ 48,676      $ 46,411      $ 35,673      $ 35,721   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to combined fixed charges and preferred stock dividends

      —          —          —          —          —     

Deficiency of earnings to combined fixed charges and preferred stock dividends

    $ (56,869 )    $ (24,903 )    $ (11,466 )    $ (63,928 )    $ (9,853 )