EXHIBIT 12.1
RATIO OF EARNINGS TO FIXED CHARGES AND RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (UNAUDITED)
For the Years Ended | ||||||||||||||||||||||||
Three Months Ended March 31, 2018 | December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 | December 31, 2013 | |||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||
Income (loss) before taxes | $ | 44,747 | $ | 181,154 | $ | (45,517 | ) | $ | (31,205 | ) | $ | (179,048 | ) | $ | (187,054 | ) | ||||||||
Fixed charges (interest expense) | $ | 32,018 | $ | 94,558 | $ | 73,107 | $ | 59,278 | $ | 65,113 | $ | 84,550 | ||||||||||||
Earnings (loss) adjusted | $ | 76,765 | $ | 275,712 | $ | 27,590 | $ | 28,073 | $ | (113,935 | ) | $ | (102,504 | ) | ||||||||||
Ratio of earnings to fixed charges | 2.40 | 2.92 | 0.38 | 0.47 | (1.75 | ) | (1.21 | ) | ||||||||||||||||
Deficiency | $ | — | $ | — | $ | 45,517 | $ | 31,205 | $ | 179,048 | $ | 187,054 | ||||||||||||
Preferred stock dividends | $ | 4,253 | $ | 15,880 | $ | 15,622 | $ | 15,622 | $ | 15,620 | $ | 14,213 | ||||||||||||
Combined fixed charges and preferred stock dividends | $ | 36,271 | $ | 110,438 | $ | 88,729 | $ | 74,900 | $ | 80,733 | $ | 98,763 | ||||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends. | 2.12 | 2.50 | 0.31 | 0.37 | (1.41 | ) | (1.04 | ) | ||||||||||||||||
Deficiency | $ | — | $ | — | $ | 61,139 | $ | 46,827 | $ | 194,668 | $ | 201,267 |