Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES

AND PREFERRED DIVIDENDS

	(dollars in thousands)
	Three months ended March 31, 2018			Year ended December 31, 2017			Year ended December 31, 2016			Year ended December 31, 2015			Year ended December 31, 2014
Net (loss) income	$	(5,583	)	$	25,882		$	201,700		$	(61,833	)	$	3,070
Preferred deemed dividends		—			—			—			—			(9,455	)
Series B preferred stock dividends		(200	)		(18,050	)		(18,000	)		(17,748	)		—
Net (loss) income attributable to common and participating stockholders	$	(5,783	)	$	7,832		$	183,700		$	(79,581	)	$	(6,385	)
Interest on runoff notes	$	—		$	1,788		$	2,616		$	3,702		$	8,993
Interest charges due to debt facility termination		—			—			—			—			13,232
Total fixed charges		—			1,788			2,616			3,702			22,225
Preferred dividends		200			18,050			18,000			17,748			9,455
Total fixed charges and preferred dividends	$	200		$	19,838		$	20,616		$	21,450		$	31,680
Ratio of net (loss) income to combined fixed charges and preferred dividends		(2,792	%)		130	%		978	%		(288	%)		10	%
Ratio of net (loss) income attributable to common and participating stockholders to combined fixed charges and preferred dividends		(2,892	%)		39	%		891	%		(371	%)		(20	%)