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STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| | Niska | Niska Predecessor | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Year Ended March 31, | Period from May 12, 2006 to March 31, 2007 | |||||||||||||||
| | 2011 | 2010 | 2009 | 2008 | |||||||||||||
Earnings: | |||||||||||||||||
Net earnings (loss) before income taxes | 27,403 | 121,149 | 96,949 | 44,965 | 41,358 | ||||||||||||
Less: capitalized interest | (2,018 | ) | (574 | ) | — | — | — | ||||||||||
Total earnings | 25,385 | 120,575 | 96,949 | 44,965 | 41,358 | ||||||||||||
Fixed Charges: | |||||||||||||||||
Interest and debt expense | 77,007 | 38,119 | 53,486 | 73,853 | 60,188 | ||||||||||||
Capitalized interest | 2,018 | 574 | — | — | — | ||||||||||||
Portion of rentals representing an interest factor | 1,079 | 653 | 490 | 573 | 293 | ||||||||||||
Total fixed charges | 80,104 | 39,346 | 53,976 | 74,426 | 60,481 | ||||||||||||
Earnings (deficit) available for (applied to) fixed charges | 105,489 | 159,921 | 150,925 | 119,391 | 101,839 | ||||||||||||
Ratio of earnings to fixed charges | 1.3x | 4.1x | 2.8x | 1.6x | 1.7x | ||||||||||||
STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES