Exhibit 12.1
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED DIVIDENDS
| (dollars in thousands) |
| |||||||||||||||||
| Six months ended June 30, 2017 |
|
| Year ended December 31, 2016 |
|
| Year ended December 31, 2015 |
|
| Year ended December 31, 2014 |
|
| Year ended December 31, 2013 |
| |||||
Net (loss) income | $ | (3,535 | ) |
| $ | 201,700 |
|
| $ | (61,833 | ) |
| $ | 3,070 |
|
| $ | 338 |
|
Preferred deemed dividends |
| — |
|
|
| — |
|
|
| — |
|
|
| (9,455 | ) |
|
| — |
|
Series B preferred stock dividends |
| (9,000 | ) |
|
| (18,000 | ) |
|
| (17,748 | ) |
|
| — |
|
|
| — |
|
Net (loss) income attributable to common and participating stockholders | $ | (12,535 | ) |
| $ | 183,700 |
|
| $ | (79,581 | ) |
| $ | (6,385 | ) |
| $ | 338 |
|
Interest on runoff notes | $ | 1,209 |
|
| $ | 2,616 |
|
| $ | 3,702 |
|
| $ | 8,993 |
|
| $ | 14,897 |
|
Interest charges due to debt facility termination |
| — |
|
|
| — |
|
|
| — |
|
|
| 13,232 |
|
|
| — |
|
Total fixed charges |
| 1,209 |
|
|
| 2,616 |
|
|
| 3,702 |
|
|
| 22,225 |
|
|
| 14,897 |
|
Preferred dividends |
| 9,000 |
|
|
| 18,000 |
|
|
| 17,748 |
|
|
| 9,455 |
|
|
| — |
|
Total fixed charges and preferred dividends | $ | 10,209 |
|
| $ | 20,616 |
|
| $ | 21,450 |
|
| $ | 31,680 |
|
| $ | 14,897 |
|
Ratio of net (loss) income to combined fixed charges and preferred dividends |
| (35 | %) |
|
| 978 | % |
|
| (288 | %) |
|
| 10 | % |
|
| 2 | % |
Ratio of net (loss) income attributable to common and participating stockholders to combined fixed charges and preferred dividends |
| (123 | %) |
|
| 891 | % |
|
| (371 | %) |
|
| (20 | %) |
|
| 2 | % |