EX-12.1 3 d219647dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

 

     Three Months
Ended
June 30, 2016
    Fiscal Year Ended March 31,  
       2016     2015     2014     2013     2012  

Earnings:(1)

            

Earnings before income taxes

     67,276        219,252        252,927        181,804        84,096        21,912   

Add: Fixed charges

     4,390        18,539        16,631        18,171        15,791        17,769   

Add: Amortization of capitalized interest and FIN 48 Interest

     134        536        (3,311     1,177        945        (367

Add: Cash distributions from equity method investments

     8,750        37,250        40,375        37,750        28,500        23,250   

Subtract: Income from equity method investments

     (7,980     (39,083     (44,967     (37,811     (32,507     (28,528
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Earnings

     72,570        236,494        261,655        201,091        96,825        34,036   

Fixed Charges:(2)

            

Interest expense

     3,901        16,583        15,590        17,646        15,467        17,530   

Interest component of rent expense

     489        1,956        1,041        525        324        239   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Fixed Charges

     4,390        18,539        16,631        18,171        15,791        17,769   

Ratio of Earnings to Fixed Charges

     16.5x        12.8x        15.7x        11.1x        6.1x        1.9x   

 

(1) Earnings represent earnings before income taxes and before income from equity method investments plus: (a) fixed charges; and (b) cash distributions from equity method investments.
(2) Fixed charges include: (a) interest expense, whether expensed or capitalized, less interest accrued for uncertain tax positions; and (b) the portion of operating rental expense which management believes is representative of the interest component of rent expense.