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 | |||||||||||||||||
| | Three Months Ended June 30, 2011 | |||||||||||||||||||
| | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||
| | ($ in thousands) | |||||||||||||||||||
Earnings: | ||||||||||||||||||||
Net earnings (loss) before income taxes | $ | (835 | ) | $ | 27,403 | $ | 121,149 | $ | 96,949 | $ | 44,965 | $ | 41,358 | |||||||
Less: capitalized interest | (867 | ) | (2,018 | ) | (574 | ) | — | — | — | |||||||||||
Total earnings | (1,702 | ) | 25,385 | 120,575 | 96,949 | 44,965 | 41,358 | |||||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest and debt expense | $ | 18,653 | $ | 77,007 | $ | 38,119 | $ | 53,486 | $ | 73,853 | $ | 60,188 | ||||||||
Capitalized interest | 867 | 2,018 | 574 | — | — | — | ||||||||||||||
Portion of rentals representing an interest factor | 276 | 1,079 | 653 | 490 | 573 | 293 | ||||||||||||||
Total fixed charges | 19,796 | 80,104 | 39,346 | 53,976 | 74,426 | 60,481 | ||||||||||||||
Earnings (deficit) available for (applied to) fixed charges | $ | 18,094 | $ | 105,489 | $ | 159,921 | $ | 150,925 | $ | 119,391 | $ | 101,839 | ||||||||
Ratio of earnings to fixed charges | — | (1) | 1.3x | 4.1x | 2.8x | 1.6x | 1.7x | |||||||||||||
Dollar amount of deficiency in earnings to fixed charges | $ | 1,702 | — | — | — | — | — | |||||||||||||
