Exhibit 12.1
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| For the Six months |
| For the year ended December 31, |
| For the period September 1, |
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(in thousands) |
|
|
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| ||||||||
Earnings |
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|
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Add: |
| (a) Pre-tax income |
| $ | 14,116 |
| $ | 36,213 |
| $ | 23,353 |
| $ | 13,941 |
| $ | 860 |
| $ | (163 | ) | ||
|
| (b) Fixed charges |
| 17,601 |
| 38,116 |
| 34,616 |
| 15,329 |
| 2,558 |
| 39 |
| ||||||||
|
| (c) Amortization of capitalized interest |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (d) Distributed income from equity investees |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (e) Pre-tax losses of equity investees |
| — |
| — |
| — |
| — |
| — |
| — |
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Subtract: |
| (a) Interest capitalized |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (b) Preference dividend from subs |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (c) Income of subs |
| — |
| — |
| — |
| — |
| — |
| — |
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|
| Total |
| $ | 31,717 |
| $ | 74,329 |
| $ | 57,969 |
| $ | 29,270 |
| $ | 3,418 |
| $ | (124 | ) | ||
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Fixed Charges |
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|
| (a) Interest expensed |
| $ | 14,451 |
| $ | 28,557 |
| $ | 24,900 |
| $ | 12,027 |
| $ | 1,816 |
| $ | — |
| ||
|
| (a) Interest capitalized |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (b) Amortized premiums |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (b) Discounts and capitalized expenses |
| 3,150 |
| 9,559 |
| 9,716 |
| 3,302 |
| 742 |
| 39 |
| ||||||||
|
| (C) Interest within rental expense |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (d) Dividend of subs |
| — |
| — |
| — |
| — |
| — |
| — |
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| ||||||||
|
| Total |
| $ | 17,601 |
| $ | 38,116 |
| $ | 34,616 |
| $ | 15,329 |
| $ | 2,558 |
| $ | 39 |
| ||
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Ratio of Earnings to Fixed Charges |
| 1.80 | x | 1.95 | x | 1.67 | x | 1.91 | x | 1.34 | x | (3.17 | )x | ||||||||||
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|
|
|
| ||||||||||
|
|
|
| For the Six months |
| For the year ended December 31, |
| For the period September 1, |
| ||||||||||||||
(in thousands) |
|
|
| 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
| ||||||||
Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Add: |
| (a) Pre-tax income |
| $ | 14,116 |
| $ | 36,213 |
| $ | 23,353 |
| $ | 13,941 |
| $ | 860 |
| $ | (163 | ) | ||
|
| (b) Fixed charges |
| 17,601 |
| 38,116 |
| 34,616 |
| 15,329 |
| 2,558 |
| 39 |
| ||||||||
|
| (c) Amortization of capitalized interest |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (d) Distributed income from equity investees |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (e) Pre-tax losses of equity investees |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
Subtract: |
| (a) Interest capitalized |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
| (b) Preference dividend from subs |
| — |
| — |
| — |
| — |
| (674 | ) | — |
| ||||||||
|
| (c) Income of subs |
| — |
| — |
| — |
| — |
| — |
| — |
| ||||||||
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
| ||||||||
|
| Total |
| $ | 31,717 |
| $ | 74,329 |
| $ | 57,969 |
| $ | 29,270 |
| $ | 2,744 |
| $ | (124 | ) | ||
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| ||||||||
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
| 1.80 | x | 1.95 | x | 1.67 | x | 1.91 | x | 1.07 | x | (3.17 | )x | ||||||||||
