EX-12.1 3 a2232911zex-12_1.htm EX-12.1

Exhibit 12.1

 

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED SHARE DIVIDENDS

 

 

 

Successor

 

 

Predecessor

 

(in thousands, except for ratio amounts
presented)

 

Three Months
Ended March 31,
2017

 

October 11,
2016
through
December 31,
2016

 

 

January 1,
2016
through
October 10,
2016

 

Year Ended
December 31,
2015

 

Year Ended
December 31,
2014

 

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.