Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND TO FIXED CHARGES
AND PREFERRED UNIT DISTRIBUTIONS
Six Months Ended June 30, | Year ended December 31, | |||||||||||||||||||||||||||
(USD in thousands) | 2017 | 2016 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||||
Earnings: | ||||||||||||||||||||||||||||
Pre-tax income | 28,350 | 22,247 | 61,087 | 40,383 | 27,407 | 17,891 | 2,006 | |||||||||||||||||||||
Add: Fixed charges | 13,466 | 10,084 | 20,867 | 17,451 | 15,271 | 10,773 | 13,471 | |||||||||||||||||||||
Add: Amortization of capitalized interest | 413 | 413 | 827 | 827 | 827 | 827 | 827 | |||||||||||||||||||||
Less: Interest capitalized | — | — | — | — | — | — | — | |||||||||||||||||||||
Earnings | 42,229 | 32,744 | 82,781 | 58,661 | 43,505 | 29,491 | 16,304 | |||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | 12,711 | 9,511 | 19,669 | 16,302 | 12,250 | 9,032 | 12,489 | |||||||||||||||||||||
Interest capitalized | — | — | — | — | — | — | — | |||||||||||||||||||||
Amortization of debt issuance cost and capitalized expenses related to indebtedness | 755 | 573 | 1,198 | 1,149 | 3,021 | 1,741 | 982 | |||||||||||||||||||||
Fixed charges | 13,466 | 10,084 | 20,867 | 17,451 | 15,271 | 10,773 | 13,471 | |||||||||||||||||||||
Preferred unit distributions | 645 | — | — | — | — | — | — | |||||||||||||||||||||
Total fixed charges and preferred unit distributions | 14,111 | 10,084 | 20,867 | 17,451 | 15,271 | 10,773 | 13,471 | |||||||||||||||||||||
Ratio of earnings to fixed charges | 3.14x | 3.25x | 3.97x | 3.36x | 2.85x | 2.74x | 1.21x | |||||||||||||||||||||
Ratio of earnings to fixed charges and preferred unit distributions | 2.99x | 3.25x | 3.97x | 3.36x | 2.85x | 2.74x | 1.21x |