EX-12.1 4 a2236409zex-12_1.htm EX-12.1

Exhibit 12.1

 

COMPUTATION OF RATIO EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

(dollars in thousands)

 

 

 

For the Period

 

 

 

 

 

from January 1, 2018 to

 

Year Ended December 31,

 

 

 

June 30, 2018

 

2017

 

2016

 

2015

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (Loss) from Continuting Operations Before Income Taxes

 

$

32,112

 

$

102,084

 

$

127,195

 

$

97,205

 

$

169,013

 

$

22,715

 

Fixed Charges

 

21,236

 

40,368

 

44,493

 

56,096

 

62,715

 

62,850

 

Amortization of Capitalized Interest

 

1

 

28

 

42

 

55

 

70

 

70

 

Capitalized Interest

 

 

 

 

 

(914

)

(1,516

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings

 

$

53,349

 

$

142,480

 

$

171,730

 

$

153,356

 

$

230,884

 

$

84,119

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Expense

 

$

20,151

 

$

38,481

 

$

41,735

 

$

52,684

 

$

58,278

 

$

57,279

 

Portion of Rent Related to Interest

 

1,085

 

1,887

 

2,758

 

3,412

 

3,523

 

4,055

 

Capitalized Interest

 

 

 

 

 

914

 

1,516

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges

 

21,236

 

40,368

 

44,493

 

56,096

 

62,715

 

62,850

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preferred Stock Dividends

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Combined Fixed Charges and Preferred Stock Dividends

 

$

21,236

 

$

40,368

 

$

44,493

 

$

56,096

 

$

62,715

 

$

62,850

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

 

2.51

 

3.53

 

3.86

 

2.73

 

3.68

 

1.34

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deficiency of Earnings to Fixed Charges and Preferred Stock Dividends

 

$

 

$

 

$

 

$

 

$

 

$