COMPUTATION OF RATIO OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
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| For the year ended December 31, | ||||||
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| 2017 |
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| 2016 |
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| 2015 |
Earnings: |
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Net income (loss) | $ | 14,559 |
| $ | 16,017 |
| $ | (2,943) |
Add back: |
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Fixed charges |
| 1,059 |
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| 564 |
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| 58 |
Distribution of income from investments in unconsolidated entities |
| 700 |
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| 995 |
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| - |
Less: |
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Equity in earnings from unconsolidated entities |
| (2,263) |
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| (1,278) |
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| - |
Total earnings (loss) (A) | $ | 14,055 |
| $ | 16,298 |
| $ | (2,885) |
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Fixed charges: |
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Interest expense | $ | 1,053 |
| $ | 559 |
| $ | - |
Portion of rent expense representative of interest factor |
| 6 |
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| 5 |
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| 58 |
Total fixed charges (B) | $ | 1,059 |
| $ | 564 |
| $ | 58 |
Preferred dividends |
| 1,456 |
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| 996 |
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| - |
Total Fixed Charges and Preferred Dividends (C) | $ | 2,515 |
| $ | 1,560 |
| $ | 58 |
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Ratio of earnings (loss) to fixed charges (A / B) |
| 13.27 |
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| 28.90 |
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| (49.74) |
Insufficient coverage (A - B) |
| n/a |
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| n/a |
| $ | (2,943) |
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Ratio of earnings (loss) to fixed charges and preferred dividends (A / C) |
| 5.59 |
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| 10.45 |
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| (49.74) |
Insufficient coverage (A - C) |
| n/a |
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| n/a |
| $ | (2,943) |