EX-12.1 2 a2209867zex-12_1.htm EX-12.1
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Exhibit 12.1

 
   Niska   Niska Predecessor  
 
   Year Ended March 31,  
 
   2012   2011   2010   2009   2008  

Earnings:

                                

Net (loss) earnings before income taxes

     (185,459 )   27,403     121,149     96,949     44,965  

Less: capitalized interest

     (4,077 )   (2,018 )   (574 )   —     —  

Total (loss) earnings

     (189,536 )   25,385     120,575     96,949     44,965  

Fixed Charges

                                

Interest and debt expense

     74,630     77,007     38,119     53,486     73,853  

Capitalized interest

     4,077     2,018     574     —     —  

Portion of rentals representing an interest factor

     4,957     1,079     653     490     573  

Total fixed charges

     83,664     80,104     39,346     53,976     74,426  

(Deficit) earnings (applied to) available for fixed charges

    
(105,872
)		  
105,489		    
159,921		    
150,925		    
119,391		  

Ratio of earnings to fixed charges

    
-1.3
x		  
1.3
x		  
4.1
x		  
2.8
x		  
1.6
x



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