Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS
|
| Successor |
|
| Predecessor |
| |||||||||||
(in thousands, except for ratio amounts |
| Three Months |
| October 11, |
|
| January 1, |
| Year Ended |
| Year Ended |
| |||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
| |||||
Income (loss) before income taxes |
| $ | 10,707 |
| $ | (8,985 | ) |
| $ | (219,130 | ) | $ | (38,897 | ) | $ | 19,312 |
|
Add: Fixed charges |
| $ | 444 |
| $ | 403 |
|
| $ | 5,695 |
| $ | 6,349 |
| $ | 2,553 |
|
Total Earnings Available for Fixed Charges |
| $ | 11,060 |
| $ | (8,656 | ) |
| $ | (213,593 | ) | $ | (32,550 | ) | $ | 21,641 |
|
Fixed Charges: |
|
|
|
|
|
|
|
|
|
|
|
| |||||
Interest Expense |
| $ | 317 |
| $ | 308 |
|
| $ | 5,250 |
| $ | 5,784 |
| $ | 2,159 |
|
Amortized Premiums, Discounts and Debt Issue Costs |
| 93 |
| 70 |
|
| 376 |
| 482 |
| 316 |
| |||||
Estimate of Interest Within Rental Expense |
| 34 |
| 25 |
|
| 69 |
| 83 |
| 78 |
| |||||
Total Fixed Charges |
| $ | 444 |
| $ | 403 |
|
| $ | 5,695 |
| $ | 6,349 |
| $ | 2,553 |
|
Ratio of Earnings to Fixed Charges |
| 25.13 |
| — | (1) |
| — | (2) | — | (3) | 8.56 |
| |||||
Preferred Stock Dividend Requirements |
| — |
| — |
|
| — |
| — |
| — |
| |||||
Total Fixed Charges Plus Preferred Stock Dividends |
| $ | 444 |
| $ | 403 |
|
| $ | 5,695 |
| $ | 6,349 |
| $ | 2,553 |
|
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
| 25.13 |
| — | (1) |
| — | (2) | — | (3) | 8.56 |
| |||||
(1) Earnings for the period from October 11, 2016, through December 31, 2016 (Successor) were insufficient to cover fixed charges by approximately $9.0 million.
(2) Earnings for the period from January 1, 2016, through October 10, 2016 (Predecessor) were insufficient to cover fixed charges by approximately $219.1 million.
(3) Earnings for the year ended December 31, 2015 (Predecessor) were insufficient to cover fixed charges by approximately $38.9 million.
