Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
| 6 Months | ||||||||||||||||||||||||
| Ended | For the Year ended December 31, | |||||||||||||||||||||||
| June 30, 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||
| Earnings | ||||||||||||||||||||||||
| Income before provision for income taxes | $ | 10,675 | $ | 11,518 | $ | 39,252 | $ | 9,671 | $ | 18,049 | $ | 31,008 | ||||||||||||
| Add: Fixed Charges | 10,411 | 19,882 | 17,191 | 10,657 | 9,045 | 7,886 | ||||||||||||||||||
| Add: Amortization of interest capitalized during prior periods | 147 | 141 | 116 | 24 | - | - | ||||||||||||||||||
| Subtract: Capitalized interests | - | (10 | ) | (377 | ) | (1,383 | ) | (145 | ) | - | ||||||||||||||
| Total Earnings | $ | 21,233 | $ | 31,531 | $ | 56,182 | $ | 18,969 | $ | 26,949 | $ | 38,894 | ||||||||||||
| Fixed Charges (a) | ||||||||||||||||||||||||
| Interest expense (including interest component on lease payments and amortization of deferred costs of financing) | $ | 10,411 | $ | 19,872 | $ | 16,814 | $ | 9,274 | $ | 8,900 | $ | 7,886 | ||||||||||||
| Add: Capitalized interests | - | 10 | 377 | 1,383 | 145 | - | ||||||||||||||||||
| Total Fixed Charges | $ | 10,411 | $ | 19,882 | $ | 17,191 | $ | 10,657 | $ | 9,045 | $ | 7,886 | ||||||||||||
| Ratio of Earnings (loss) to Fixed Charges (b) | 2.04 | 1.59 | 3.27 | 1.78 | 2.98 | 4.93 | ||||||||||||||||||
| (a) | Fixed charges include the portion of rental expense that management believes is representative of the interest component, amortization of deferred cost of financing and capitalized interests. |
| (b) | The ratio of earnings to fixed charges is computed by dividing (i) earnings before provision for income taxes plus fixed charges and amortization of interests capitalized in prior periods less interests capitalized during the period by (ii) fixed charges. |
