Exhibit 12.1
Ratio of Earnings to Fixed Charges
Ratio of Earning to Combined Fixed Charges
(dollars in thousands)
NorthStar Europe Period | Prior Owner Period | ||||||||||||||||||
Year Ended December 31, | Year Ended December 31, | September 16 to December 31, | January 1 to September 15, | Year Ended December 31, | |||||||||||||||
2016 | 2015 | 2014 | 2014 | 2013 | |||||||||||||||
Earnings | |||||||||||||||||||
Income (loss) before income tax benefit (expense) | $ | (59,760 | ) | $ | (144,818 | ) | $ | (33,906 | ) | $ | (3,007 | ) | $ | 1,633 | |||||
Add (subtract): | |||||||||||||||||||
Interest expense | 41,439 | 36,129 | 165 | 3,486 | 4,666 | ||||||||||||||
Total earnings | $ | (18,321 | ) | $ | (108,689 | ) | $ | (33,741 | ) | $ | 479 | $ | 6,299 | ||||||
Fixed Charges | |||||||||||||||||||
Interest expense | 41,439 | 36,129 | 165 | 3,486 | 4,666 | ||||||||||||||
Total Fixed Charges | 41,439 | 36,129 | 165 | 3,486 | 4,666 | ||||||||||||||
Total Combined Fixed Charges and Preferred Stock Dividends | $ | 41,439 | $ | 36,129 | $ | 165 | $ | 3,486 | $ | 4,666 | |||||||||
Ratio of earnings to fixed charges | (0.44 | ) | (3.01 | ) | (204.49 | ) | 0.14 | 1.35 | |||||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends(1) | NA | NA | NA | NA | NA | ||||||||||||||
Deficiency related to ratio of earnings to fixed charges | $ | (59,760 | ) | $ | (144,818 | ) | $ | (33,906 | ) | NA | NA |
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(1) | Because there was no preferred stock outstanding for the periods presented, the ratio is not applicable. |