QuickLinks -- Click here to rapidly navigate through this document
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
| Nine Months Ended September 30, 2015 | Year Ended December 31, | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2014 | 2013 | 2012 | 2011 | 2010 | ||||||||||||||
| (dollars in thousands) | ||||||||||||||||||
Earnings: | |||||||||||||||||||
Income (loss) before income taxes | $ | (15,232 | ) | $ | 251,838 | $ | 22,334 | $ | (2,606 | ) | $ | 60,499 | $ | 24,925 | |||||
Add: Fixed charges | 47,782 | 42,057 | 30,926 | 25,452 | 22,126 | 12,662 | |||||||||||||
| | | | | | | | | | | | | | | | | | | |
Total Earnings Available for Fixed Charges | $ | 32,550 | $ | 293,895 | $ | 53,260 | $ | 22,845 | $ | 82,625 | $ | 37,587 | |||||||
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Fixed Charges: | |||||||||||||||||||
Interest expense | $ | 47,553 | $ | 41,875 | $ | 30,774 | $ | 25,292 | $ | 21,994 | $ | 12,575 | |||||||
Rental expense attributable to interest | 229 | 182 | 151 | 160 | 131 | 88 | |||||||||||||
| | | | | | | | | | | | | | | | | | | |
Total Fixed Charges | $ | 47,782 | $ | 42,057 | $ | 30,926 | $ | 25,452 | $ | 22,126 | $ | 12,662 | |||||||
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
Ratio of Earnings to Fixed Charges | 0.7 | (1) | 6.4 | 1.7 | 0.9 | (2) | 3.7 | 3.0 | |||||||||||
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | |
- (1)
- Earning for the nine months ended September 30, 2015 were insufficient to cover fixed charges by approximately $15.2 million.
- (2)
- Earnings for the year ended December 31, 2012 were insufficient to cover fixed charges by approximately $2.6 million.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES