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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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Exhibit 12.1
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES
(Unaudited)
|
| For the Years Ended December 31, |
| |||||||||||||||||
|
| 2015 |
|
| 2014 |
|
| 2013 |
|
| 2012 |
|
| 2011 |
| |||||
|
| (in thousands, except ratios) |
| |||||||||||||||||
Earnings (Loss): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
| $ | (459,507 | ) |
| $ | 50,953 |
|
| $ | 49,342 |
|
| $ | (153,791 | ) |
| $ | (740 | ) |
Add: Fixed Charges |
|
| 57,062 |
|
|
| 54,329 |
|
|
| 31,026 |
|
|
| 13,228 |
|
|
| 2,558 |
|
Add: Amortization of capitalized interest |
| 896 |
|
|
| 594 |
|
|
| 883 |
|
|
| 7,119 |
|
|
| 460 |
| |
Less: Interest capitalized |
|
| (3,879 | ) |
|
| (4,347 | ) |
|
| (3,284 | ) |
|
| (1,946 | ) |
|
| (818 | ) |
Net income (loss), as adjusted |
| $ | (405,428 | ) |
| $ | 101,529 |
|
| $ | 77,967 |
|
| $ | (135,390 | ) |
| $ | 1,460 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total interest expensed |
| $ | 30,981 |
|
| $ | 28,851 |
|
| $ | 14,130 |
|
| $ | 1,992 |
|
| $ | 682 |
|
Amortization of financing costs |
|
| 3,584 |
|
|
| 3,067 |
|
|
| 2,322 |
|
|
| 224 |
|
|
| 248 |
|
Estimated interest portion of operating leases |
|
| 231 |
|
|
| 220 |
|
|
| 146 |
|
|
| 124 |
|
|
| 53 |
|
Dividends on preferred stock(1) |
|
| 22,266 |
|
|
| 22,191 |
|
|
| 14,428 |
|
|
| 10,888 |
|
|
| 1,575 |
|
Total fixed charges |
| $ | 57,062 |
|
| $ | 54,329 |
|
| $ | 31,026 |
|
| $ | 13,228 |
|
| $ | 2,558 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed Charges and Fixed Charge Ratio: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (deficiency) to fixed charges |
| $ | (462,490 | ) |
| $ | 47,200 |
|
| $ | 46,941 |
|
| $ | (148,618 | ) |
| $ | (1,098 | ) |
Earnings to fixed charges ratio |
|
| — |
|
| 1.9x |
|
| 2.5x |
|
|
| — |
|
|
| — |
|
___________________________
(1) | Computed as the dividend requirement divided by (1 minus the statutory tax rate). |