EX-12.1 3 exhibit_121xstatementrecom.htm EXHIBIT 12.1 Exhibit

Exhibit 12.1
Statement re Computation of Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
 
 
Years Ended December 31,
 
Three Months Ended March 31, 2018
 
2015
 
2016
 
2017
 
(dollars in thousands)
 
 
 
 
 
 
 
Net Loss Before Taxes
$
(52,023
)
 
$
(40,969
)
 
$
(52,078
)
 
$
(14,388
)
Add:
 
 
 
 
 
 
 
Fixed Charges
287

 
311

 
333

 
99

Total Earnings
$
(51,736
)
 
$
(40,658
)
 
$
(51,745
)
 
$
(14,289
)
 
 
 
 
 
Fixed Charges Calculation:
 
 
 
 
 
 
 
Interest expensed and capitalized
$

 
$

 
$

 
$

Amortized premiums, discounts, and capitalized expenses related to indebtedness

 

 

 

Interest factor in rents (1)
287

 
311

 
333

 
99

 
 
 
 
 
 
 
 
Total Fixed Charges
$
287

 
$
311

 
$
333

 
$
99

 
 
 
 
 
Ratio of Earnings to Fixed Charges

 

 

 

 
 
 
 
 
Deficiency of earnings available to cover fixed charges
$
(52,023
)
 
$
(40,969
)
 
$
(52,078
)
 
$
(14,388
)
 
 
 
 
 
 
 
 
 

(1)
Consists of one-third of rental expense, which we believe to be a reasonable estimate of an interest factor in our leases.