EX-12 5 a2204581zex-12.htm EX-12

Exhibit 12

 

Casella Waste Systems, Inc.

Statement of Computation of Ratio of Earnings to Fixed Charges and Earnings to Combined Fixed Charges and Preferred Stock Dividends

(in thousands, except ratios)

 

 

 

2011

 

2010

 

2009

 

2008

 

2007

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from continuing operations before income taxes, discontinued operations and cumulative effect of change in accounting principle

 

$

(27,921

)

$

(13,807

)

$

(65,871

)

$

(14,655

)

$

(29,905

)

Loss (income) from equity method investees

 

4,096

 

2,690

 

2,157

 

6,077

 

(1,051

)

Fixed charges

 

48,676

 

46,411

 

35,673

 

35,721

 

30,704

 

Less: interest capitalized

 

(1,078

)

(349

)

(214

)

(1,275

)

(1,116

)

Earnings

 

$

23,773

 

$

34,945

 

$

(28,255

)

$

25,868

 

$

(1,368

)

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense (includes amortization of premium and discounts and deferred financing charges)

 

$

45,912

 

$

44,375

 

$

33,840

 

$

33,282

 

$

28,533

 

Estimate of interest within rental expense

 

1,686

 

1,687

 

1,619

 

1,164

 

1,055

 

Interest capitalized

 

1,078

 

349

 

214

 

1,275

 

1,116

 

Fixed charges

 

$

48,676

 

$

46,411

 

$

35,673

 

$

35,721

 

$

30,704

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

—

 

—

 

—

 

—

 

—

 

Deficiency of earnings to fixed charges

 

$

(24,903

)

$

(11,466

)

$

(63,928

)

$

(9,853

)

$

(32,072

)

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges from above

 

$

48,676

 

$

46,411

 

$

35,673

 

$

35,721

 

$

30,704

 

Preferred stock dividends

 

—

 

—

 

—

 

—

 

5,579

 

Combined fixed charges and preferred stock dividends

 

$

48,676

 

$

46,411

 

$

35,673

 

$

35,721

 

$

36,283

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to combined fixed charges and preferred stock dividends

 

—

 

—

 

—

 

—

 

—

 

Deficiency of earnings to combined fixed charges and preferred stock dividends

 

$

(24,903

)

$

(11,466

)

$

(63,928

)

$

(9,853

)

$

(37,651

)