EX-12.1 4 d481416dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

THE TRADE DESK, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED

CHARGES

(in thousands)

 

     Year Ended December 31,     Nine Months
Ended
September 30,		  
     2016      2015      2014     2017  

Fixed charges:

           

Interest expense(1)

    $ 2,878      $ 1,141      $ 611     $ 1,290  

Estimated interest component of rent expense(2)

      1,598        733        400       2,331  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total fixed charges

    $ 4,476      $ 1,874      $ 1,011     $ 3,621  
  

 

 

     

 

 

     

 

 

    

 

 

  

Earnings available for fixed charges:

           

Pre-tax income (loss)

    $ 43,834      $ 29,855      $ (943 )    $ 35,589  

Add: Fixed charges

      4,476        1,874        1,011       3,621  
  

 

 

     

 

 

     

 

 

    

 

 

  

Total earnings available for fixed charges

    $ 48,310      $ 31,729      $ 68     $ 39,210  
  

 

 

     

 

 

     

 

 

    

 

 

  

Ratio of earnings to fixed charges

      10.8        16.9        —   (3)      10.8  
  

 

 

     

 

 

     

 

 

    

 

 

  

Deficiency of earnings available to cover fixed charges

      —          —        $ (943 )      —    
  

 

 

     

 

 

     

 

 

    

 

 

  

 

(1) Loss on extinguishment of debt of $197 and $232 was excluded from the years ended December 31, 2016 and 2014, respectively.
(2) One third of rent expense was included in the calculation as it is a reasonable approximation of the interest component.
(3) Earnings in the year ended December 31, 2014 were inadequate to cover fixed charges. Additional earnings of $943 in the year ended December 31, 2014 would have been necessary to bring the ratio for this period to 1.0.