EX-12.1 5 a2234761zex-12_1.htm EX-12.1

Exhibit 12.1

 

Schedule of Ratio of Earnings to Fixed Charges

 

The following table reflects the computation of the ratio of earnings to fixed charges for the periods presented (in thousands):

 

 

 

Year
 Ended 
December

 

Transition
 Period
Ended
December
31,

 

Year Ended June 30,

 

 

 

31, 2017

 

2016

 

2016

 

2015

 

2014

 

2013

 

Net loss before taxes

 

$

96,012

 

$

78,883

 

$

144,817

 

$

60,739

 

$

71,364

 

$

72,811

 

Fixed charges

 

 

 

 

 

 

 

Deficiency of Earnings to Cover Fixed Charges

 

$

96,012

 

$

78,883

 

$

144,817

 

$

60,739

 

$

71,364

 

$

72,811

 

 


(1) The ratio of earnings to fixed charges is defined as earnings divided by fixed charges.  Fixed charges consist of interest costs (both expensed and capitalized), amortization of debt issuance costs and an estimate of interest expense within rental expense.  Fixed charges are excluded from the table above as all periods presented include a net loss.

 

(2) Our earnings were inadequate to cover fixed charges for the year ended December 31, 2017, the six-month transition period ended December 31, 2016 and the years ended June 30, 2016, 2015, 2014, 2013 and 2012 by $96.0 million, $78.9 million, $144.8 million, $60.7 million, $71.4 million and $72.8 million, respectively.