Exhibit 12.1
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands)
The following table sets forth, for each of the periods presented, our ratio of earnings to fixed charges or our deficiency of earnings available to cover fixed charges. Our earnings were insufficient to cover fixed charges for the years ended December 31, 2016, 2015 and 2014.
| Six Months Ended June 30, | Year Ended December 31, | |||||||||||||||||||||||
| 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||
| Fixed charges | ||||||||||||||||||||||||
| Contractual interest and financing expenses | $ | 11,357 | $ | 11,467 | $ | 8,454 | $ | — | $ | — | $ | — | ||||||||||||
| Amortization of debt issuance costs | 1,513 | 2,415 | 5,691 | — | — | — | ||||||||||||||||||
| Interest portion of rental expense | 25 | 57 | 44 | 31 | 18 | 21 | ||||||||||||||||||
| Total fixed charges | $ | 12,895 | $ | 13,939 | $ | 14,189 | $ | 31 | $ | 18 | $ | 21 | ||||||||||||
| Income (loss) from continuing operations before tax | $ | 91,928 | $ | 37,330 | $ | (650,234 | ) | $ | (368,088 | ) | $ | (17,134 | ) | $ | 309,284 | |||||||||
| Fixed charges per above | 12,895 | 13,939 | 14,189 | 31 | 18 | 21 | ||||||||||||||||||
| $ | 104,823 | $ | 51,269 | $ | (636,045 | ) | $ | (368,057 | ) | $ | (17,116 | ) | $ | 309,305 | ||||||||||
| Ratio of earnings to fixed charges | 8 | 4 | 14,729 | |||||||||||||||||||||
| Deficiency of earnings available to cover fixed charges | $ | (636,045 | ) | $ | (368,057 | ) | $ | (17,116 | ) | |||||||||||||||