Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
The following table sets forth, for each of the periods presented, our ratio of earnings to fixed charges and preferred stock dividends and our coverage deficiency.
| Successor | Predecessor | |||||||||||||||||||
| ($ in thousands) | Six Months Ended June 30, 2017 |
Year Ended December 31, 2016 |
Year Ended December 31, 2015 |
Nine Month Period From April 1, 2014 Through December 31, 2014 |
Three Month Period From January 1, 2014 Through March 31, 2014 |
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| Earnings |
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| Income (loss) before income taxes |
$ | 28,124 | $ | 21,957 | $ | (7,830 | ) | $ | (21,039 | ) | $ | (222 | ) | |||||||
| Fixed charges |
3,602 | 19,384 | 27,259 | 23,185 | 3,272 | |||||||||||||||
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| Total earnings available for fixed charges |
$ | 31,726 | $ | 41,341 | $ | 19,429 | $ | 2,146 | $ | 3,050 | ||||||||||
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| Fixed Charges |
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| Interest from indebtedness |
$ | 2,210 | $ | 14,671 | $ | 22,306 | $ | 19,322 | $ | 2,149 | ||||||||||
| Loan cost amortization |
332 | 2,576 | 2,687 | 2,064 | 371 | |||||||||||||||
| Portion of rental expense that is representative of the interest factor |
1,060 | 2,137 | 2,266 | 1,799 | 752 | |||||||||||||||
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| Total fixed charges |
$ | 3,602 | $ | 19,384 | $ | 27,259 | $ | 23,185 | $ | 3,272 | ||||||||||
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| Ratio of Earnings to Fixed Charges |
8.81 | 2.13 | * | * | * | |||||||||||||||
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| * | Earnings for the three month period from January 1, 2014 through March 31, 2014, the nine month period from April 1, 2014 through December 31, 2014 and the year ended December 31, 2015 were inadequate to cover fixed charges by approximately $222,000, $21.0 million and $7.8 million, respectively. |
For the periods indicated above, we had no outstanding shares of preferred stock with required dividend payments. Therefore, the ratios of earnings to fixed charges and preferred stock dividends are identical to the ratios presented in the table above.