EX-12.1 4 exh121-statementofcomputat.htm STATEMENT OF COMPUTATION (S-3 2017) Exhibit


Exhibit 12.1
Statement of Computation of Ratio of Earnings to Fixed Charges
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six months ended June 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
For the year ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
2012
Earnings (loss):
 
 
 
 
 
 
 
 
 
 
 
 
Loss before income taxes
 
$
(78,602
)
 
$
(141,429
)
 
$
(4,682
)
 
$
(100,364
)
 
$
(104,126
)
 
$
(110,211
)
Add:
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
3,202

 
6,567

 
6,722

 
2,253

 
1,971

 
2,114

Estimated interest factor in rental expense
 
141

 
303

 
47

 
855

 
784

 
1,459

 
 
 
 
 
 
 
 
 
 
 
 
 
Total loss
 
$
(75,259
)
 
$
(134,559
)
 
$
2,087

 
$
(97,256
)
 
$
(101,371
)
 
$
(106,638
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
$
3,202

 
$
6,567

 
$
6,722

 
$
2,253

 
$
1,971

 
$
2,114

Estimated interest factor in rental expense
 
141

 
303

 
47

 
855

 
784

 
1,459

 
 
 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
3,343

 
$
6,870

 
$
6,769

 
$
3,108

 
$
2,755

 
$
3,573

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges (1)
 
—

 
—

 
0.31

 
—

 
—

 
—


(1)    For the six months ended June 30, 2017, and the fiscal years ended December 31, 2016, 2015, 2014, 2013 and 2012, our earnings were insufficient to cover fixed charges by $78.6 million, $141.4 million, $4.7 million, $100.4 million, $104.1 million and $110.2 million, respectively.