Exhibit 12.1
Statement Regarding Computation of Ratio of Earnings to Fixed Charges and Preferred Stock Dividends
(Dollars in thousands)
|
|
|
Fiscal Year Ended December 31, |
|
Six |
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|
|
|
2010 |
|
2011 |
|
2012 |
|
2013 |
|
2014 |
|
2015 |
| ||||||
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Interest expense on indebtedness |
|
$ |
30 |
|
$ |
11 |
|
$ |
11 |
|
$ |
16 |
|
$ |
79 |
|
$ |
17 |
|
|
Capitalized interest expense |
|
— |
|
— |
|
— |
|
— |
|
— |
|
246 |
| ||||||
|
Preferred stock dividends (A) |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
| ||||||
|
Total fixed charges |
|
$ |
30 |
|
$ |
11 |
|
$ |
11 |
|
$ |
16 |
|
$ |
79 |
|
$ |
263 |
|
|
Earnings (loss): |
|
|
|
|
|
|
|
|
|
|
|
|
| ||||||
|
Income (loss) before income taxes |
|
$ |
7,218 |
|
$ |
11,001 |
|
$ |
10,989 |
|
$ |
(1,857 |
) |
$ |
(18,067 |
) |
$ |
(13,369 |
) |
|
Add: fixed charges per above |
|
30 |
|
11 |
|
11 |
|
16 |
|
79 |
|
263 |
| ||||||
|
Less: capitalized interest expense |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(246 |
) | ||||||
|
Less: net income attributable to non-controlling interests |
|
(547 |
) |
(642 |
) |
(729 |
) |
(650 |
) |
(754 |
) |
(164 |
) | ||||||
|
Total earnings (loss) |
|
$ |
6,701 |
|
$ |
10,370 |
|
$ |
10,271 |
|
$ |
(2,491 |
) |
$ |
(18,742 |
) |
$ |
(13,516 |
) |
|
Ratio of earnings to fixed charges |
|
223.4x |
|
942.7x |
|
933.7x |
|
N/A |
|
N/A |
|
N/A |
| ||||||
|
Ratio of earnings to fixed charges and preferred stock dividends |
|
223.4x |
|
942.7x |
|
933.7x |
|
N/A |
|
N/A |
|
N/A |
| ||||||
|
Deficiency of earnings available to cover fixed charges and preferred stock dividends |
|
$ |
N/A |
|
$ |
N/A |
|
$ |
N/A |
|
$ |
(2,507 |
) |
$ |
(18,821 |
) |
$ |
(13,779 |
) |
(A) Does not include accretion of redeemable convertible preferred stock