Main Street Capital (MAIN) 10-K 2016 FY Annual report

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Exhibit 12.1

Main Street Capital Corporation
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)

	Twelve Months Ended December 31,
	2016			2015			2014		2013			2012
Earnings:
Net increase in net assets resulting from operations	$	138,899		$	104,437		$	100,748	$	96,855		$	104,444
Income tax expense (benefit) and excise taxes		(1,227	)		(8,687	)		6,287		(35	)		10,820
Total earnings before taxes	$	137,672		$	95,750		$	107,035	$	96,820		$	115,264
Fixed Charges:
Interest expense	$	33,630		$	32,115		$	23,589	$	20,238		$	15,631
Total fixed charges	$	33,630		$	32,115		$	23,589	$	20,238		$	15,631
Earnings available to cover fixed charges	$	171,302		$	127,865		$	130,624	$	117,058		$	130,895
Ratio of earnings to fixed charges		5.09			3.98			5.54		5.78			8.37

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Exhibit 12.1

Main Street Capital Corporation Computation of Ratio of Earnings to Fixed Charges (dollars in thousands)