EX-99.1 14 s001849x1_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1
 
Computation of Ratio of Earnings to Fixed Charges
 
     
Three Months Ended
6/30/2017
     
Year Ended
3/31/2017
     
Year Ended
3/31/2016
     
Year Ended
3/31/2015
     
Year Ended
3/31/2014
     
Year Ended
3/31/2013
  
Earnings:
                                   
Net increase (decrease) in net assets from operations
 
$
5,444
   
$
23,474
   
$
(5,400
)
 
$
53,442
   
$
112,010
   
$
107,832
 
Income tax expense (benefit) and excise taxes
   
144
     
1,779
     
(1,278
)
   
270
     
(739
)
   
590
 
Total earnings before taxes
 
$
5,588
   
$
25,253
   
$
(6,678
)
 
$
53,712
   
$
111,271
   
$
108,422
 
Fixed Charges:
                   
-
     
-
     
-
     
-
 
Interest and other financing fees
 
$
738
   
$
989
   
$
-
   
$
-
   
$
-
   
$
-
 
Total fixed charges
 
$
738
   
$
989
   
$
-
   
$
-
   
$
-
   
$
-
 
Earnings available to cover fixed charges
 
$
6,326
   
$
26,242
   
$
(6,678
)
 
$
53,712
   
$
111,271
   
$
108,422
 
                                                 
Ratio of earnings to fixed charges
   
8.57
     
26.53
     
-
     
-
     
-
     
-
 
 
Footnote disclosure:
Footnote (1) disclosure and calculation:
 
     
Three Months Ended
6/30/2017
     
Year Ended
3/31/2017
     
Year Ended
3/31/2016
     
Year Ended
3/31/2015
     
Year Ended
3/31/2014
     
Year Ended
3/31/2013
  
Earnings (excluding unrealized and realized gains/losses): 
                                       
Net increase (decrease) in net assets from operations
 
$
5,444
   
$
23,474
   
$
(5,400
)
 
$
53,442
   
$
112,010
   
$
107,832
 
Income tax expense (benefit) and excise taxes
   
144
     
1,779
     
(1,278
)
   
270
     
(739
)
   
590
 
Unrealized (gains) losses
   
(1,384
)
   
(7,690
)
   
(16,089
)
   
108,377
     
(93,032
)
   
(16,367
)
Realized (gains) losses
   
(624
)
   
(7,896
)
   
10,802
     
(164,264
)
   
(14,084
)
   
(89,558
)
Total earnings before taxes (excluding unrealized and realized gains/losses)
 
$
3,580
   
$
9,667
   
$
(11,965
)
 
$
(2,175
)
 
$
4,155
   
$
2,497
 
Fixed Charges:
                                               
Interest and other financing fees
 
$
738
   
$
989
   
$
-
   
$
-
   
$
-
   
$
-
 
Total fixed charges
 
$
738
   
$
989
   
$
-
   
$
-
   
$
-
   
$
-
 
Earnings available to cover fixed charges
 
$
4,318
   
$
10,656
   
$
(11,965
)
 
$
(2,175
)
 
$
4,155
   
$
2,497
 
                                                 
Ratio of earnings to fixed charges
   
5.85
     
10.77
     
-
     
-
     
-
     
-