EX-12.1 4 exhibit121.htm EXHIBIT 12.1 Exhibit
Exhibit 12.1


TIPTREE INC.
Calculation of Ratio of Consolidated Earnings to Consolidated Fixed Charges
(Dollars in Thousands)

 
Six Months Ended June 30,
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
2015
 
2014
 
2013
Fixed charges:
 
 
 
 
 
 
 
 
 
 
 
Interest expense(1)
$
12,601

 
$
38,948

 
$
52,043

 
$
45,838

 
$
52,069

 
$
34,495

Portion of rental expense which represents interest factor(2)
1,061

 
2,272

 
2,107

 
1,907

 
503

 
94

Total fixed charges
$
13,662

 
$
41,220

 
$
54,150

 
$
47,745

 
$
52,572

 
$
34,589

Earnings available for fixed charges
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before taxes from continuing operations
$
(5,466
)
 
$
(3,330
)
 
$
49,140

 
$
(2,904
)
 
$
(2,383
)
 
$
19,476

Add: fixed charges
13,662

 
41,220

 
54,150

 
47,745

 
52,572

 
34,589

Total Earnings
$
8,196

 
$
37,890

 
$
103,290

 
$
44,841

 
$
50,189

 
$
54,065

Ratio of earnings to fixed charges
0.60

 
0.92

 
1.91

 
0.94

 
0.95

 
1.56

Deficit
$
(5,466
)
 
$
(3,330
)
 
 
 
$
(2,904
)
 
$
(2,383
)
 
 

(1) Includes amortization of deferred financing costs and discounts.
(2) Interest calculated using an assumed interest factor of 33% of rental expense.