EX-12.1 15 d708462dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

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)

 

     Fiscal Year Ended April 30,  
     2014     2013     2012     2011     2010  

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

    $ (25,511 )    $ (52,509 )    $ (76,110 )    $ (26,687 )    $ (12,041 ) 

Loss from equity method investments

      936        4,441        9,994        4,096        2,690   

Impairment of equity method investment

      —          —          10,680        —          —     

Fixed charges

      41,149        44,394        47,504        48,250        46,210   

Less: interest capitalized

      (256 )      (368 )      (407 )      (1,078 )      (349 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings

    $ 16,318      $ (4,042 )    $ (8,339 )    $ 24,581      $ 36,510   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

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

    $ 38,175      $ 41,570      $ 45,008      $ 45,543      $ 44,218   

Estimate of interest within rental expense

      2,718        2,456        2,089        1,629        1,643   

Interest capitalized

      256        368        407        1,078        349   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges

    $ 41,149      $ 44,394      $ 47,504      $ 48,250      $ 46,210   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      —          —          —          —          —     

Deficiency of earnings to fixed charges

    $ (24,831 )    $ (48,436 )    $ (55,843 )    $ (23,669 )    $ (9,700 ) 

Fixed charges from above

    $ 41,149      $ 44,394      $ 47,504      $ 48,250      $ 46,210   

Preferred stock dividends

      —          —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Combined fixed charges and preferred stock dividends

    $ 41,149      $ 44,394      $ 47,504      $ 48,250      $ 46,210   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to combined fixed charges and preferred stock dividends

      —          —          —          —          —     

Deficiency of earnings to combined fixed charges and preferred stock dividends

    $ (24,831 )    $ (48,436 )    $ (55,843 )    $ (23,669 )    $ (9,700 )