EX-12.1 2 gst-ex121_12.htm EX-12.1 gst-ex121_12.htm

Exhibit 12.1

 

STATEMENT OF COMPUTATION OF RATIO OF EARNINGS

TO FIXED CHARGES

(Unaudited)

 

  

 

For the Years Ended December 31,

 

 

 

2017

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

 

 

(in thousands, except ratios)

 

Earnings (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(46,755

)

 

$

(89,061

)

 

$

(459,507

)

 

$

50,953

 

 

$

49,342

 

Add: Fixed Charges

 

 

46,291

 

 

 

38,522

 

 

 

34,796

 

 

 

32,138

 

 

 

16,598

 

Add: Amortization of capitalized interest

 

 

1,216

 

 

 

1,389

 

 

896

 

 

 

594

 

 

 

883

 

Less: Interest capitalized

 

 

(7,207

)

 

 

(3,103

)

 

 

(3,879

)

 

 

(4,347

)

 

 

(3,284

)

Net income (loss), as adjusted

 

$

(6,455

)

 

$

(52,253

)

 

$

(427,694

)

 

$

79,338

 

 

$

63,539

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total interest expensed

 

$

35,185

 

 

$

33,368

 

 

$

30,981

 

 

$

28,851

 

 

$

14,130

 

Amortization of financing costs

 

 

10,977

 

 

 

4,981

 

 

 

3,584

 

 

 

3,067

 

 

 

2,322

 

Estimated interest portion of operating leases

 

 

129

 

 

 

173

 

 

 

231

 

 

 

220

 

 

 

146

 

Total fixed charges

 

$

46,291

 

 

$

38,522

 

 

$

34,796

 

 

$

32,138

 

 

$

16,598

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed Charges and Fixed Charge Ratio:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (deficiency) to fixed charges

 

$

(52,746

)

 

$

(90,775

)

 

$

(462,490

)

 

$

47,200

 

 

$

46,941

 

Earnings to fixed charges ratio

 

 

—

 

 

 

—

 

 

 

—

 

 

2.5x

 

 

3.8x