EXHIBIT 12.1
Ratio of Earnings to Fixed Charges
(Unaudited)
For the Year Ended December 31, | ||||||||||||||||||||
$s in thousands | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Earnings (as defined): | ||||||||||||||||||||
Earnings before income taxes | $ | 46,855 | $ | 61,050 | $ | 50,147 | $ | 41,718 | $ | 29,807 | ||||||||||
Fixed charges | 23,556 | 10,732 | 856 | 900 | 1,635 | |||||||||||||||
Earnings | $ | 70,411 | $ | 71,782 | $ | 51,003 | $ | 42,618 | $ | 31,442 | ||||||||||
Fixed charges (as defined): | ||||||||||||||||||||
Interest expense | $ | 23,370 | $ | 10,677 | $ | 828 | $ | 878 | $ | 1,604 | ||||||||||
Estimated interest within rental expense | 186 | 55 | 28 | 22 | 31 | |||||||||||||||
Fixed charges | $ | 23,556 | $ | 10,732 | $ | 856 | $ | 900 | $ | 1,635 | ||||||||||
Ratio of earnings to fixed charges | 3.0 | 6.7 | 59.6 | 47.3 | 19.2 |