Exhibit 12.1
Computation of Ratio of Earnings to Fixed Charges
(In thousands of U.S. dollars)
Six Months Ended | Fiscal Year Ended | |||||||||||||||||||||||
6/30/2016 | 12/31/2015 | 12/31/2014 | 12/31/2013 | 12/31/2012 | 12/31/2011 | |||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest Expense | $ | 5,025 | $ | 9,751 | $ | 9,417 | $ | 4,572 | $ | 6,679 | $ | 7,356 | ||||||||||||
Interest Capitalized | — | 856 | 177 | 32 | 85 | — | ||||||||||||||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 14,762 | 28,493 | 27,225 | 5,875 | 960 | 1,053 | ||||||||||||||||||
Estimate of interest within rent expense | 51 | 254 | 209 | 290 | 272 | 186 | ||||||||||||||||||
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Total fixed charges | $ | 19,838 | $ | 39,354 | $ | 37,028 | $ | 10,769 | $ | 7,996 | $ | 8,595 | ||||||||||||
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Earnings (loss) | ||||||||||||||||||||||||
Earnings before fixed charges | $ | 651,900 | $ | 115,283 | $ | 87,056 | $ | 164,543 | $ | 109,073 | $ | 32,538 | ||||||||||||
Fixed charges per above | 19,838 | 39,354 | 37,028 | 10,769 | 7,996 | 8,595 | ||||||||||||||||||
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Ratio of earnings to fixed charges | (32.86 | ) | (2.93 | ) | (2.35 | ) | (15.28 | ) | (13.64 | ) | (3.79 | ) | ||||||||||||
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Deficiency of earnings available to cover fixed charges | $ | (671,738 | ) | $ | (154,637 | ) | $ | (124,084 | ) | $ | (175,311 | ) | $ | (117,069 | ) | $ | (41,132 | ) |