EX-12.1 3 ex_115958.htm EXHIBIT 12.1 prsc20180508_s1.htm

Exhibit 12.1

 

The Providence Service Corporation Ratio of Earnings to Combined Fixed Charges and Preference Security DIVIDENDS

 

 

   

For the Quarter

Ended March 31,

   

For the Years Ended December 31,

  
    2018    

2017

    

2016

    

2015

    

2014

    

2013

  
   

(in thousands, except ratios)

  

Earnings:

                                                

Pre-tax income (loss) from continuing operations before adjustment for (gain) loss from equity investee

   $ 9,897     $ 52,150     $ 8,409     $ 876     $ 32,800     $ 19,730  

Add: Fixed charges

   5,873       23,784       25,275       26,739       20,900       12,330  

Less: Noncontrolling interest in pre-tax income (loss) of subsidiaries that have not incurred fixed charges

     296       451       (2,082 )     (502

)

     —       —  

Earnings

   $ 15,474     $ 75,483     $ 35,766     $ 28,117     $ 53,700     $ 32,060  
                                                 

Fixed charges:

                                                

Interest expense

   $ 385     $ 1,637     $ 1,767     $ 2,456     $ 10,424     $ 7,032  

Interest element of rentals

   4,399       17,729       19,091       20,348       10,476       5,298  

Preference dividends:

   1,089       4,418       4,417       3,935       —       —  

Fixed charges plus preference dividends:

  $ 5,873     $ 23,784     $ 25,275     $ 26,739     $ 20,900     $ 12,330  

Ratio of earnings to fixed charges and preference dividends

   2.63       3.17       1.42       1.05       2.57       2.60