EX-12.1 2 wmih-ex121_8.htm EX-12.1

Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES

AND PREFERRED DIVIDENDS

| (dollars in thousands) |
| Six months ended June 30, 2018 |  | Year ended December 31, 2017 |  |  | Year ended December 31, 2016 |  |  | Year ended December 31, 2015 |  |  | Year ended December 31, 2014 |
Net (loss) income | $ | (7,579 | ) | $ | 25,882 |  |  | $ | 201,700 |  |  | $ | (61,833 | ) |  | $ | 3,070 |
Preferred deemed dividends |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (9,455 | )
Series B preferred stock dividends |  | (200 | ) |  | (18,050 | ) |  |  | (18,000 | ) |  |  | (17,748 | ) |  |  | — |
Net (loss) income attributable to common and participating stockholders | $ | (7,779 | ) | $ | 7,832 |  |  | $ | 183,700 |  |  | $ | (79,581 | ) |  | $ | (6,385 | )
Interest on runoff notes | $ | — |  | $ | 1,788 |  |  | $ | 2,616 |  |  | $ | 3,702 |  |  | $ | 8,993 |
Interest charges due to debt facility termination |  | — |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,232 |
Total fixed charges |  | — |  |  | 1,788 |  |  |  | 2,616 |  |  |  | 3,702 |  |  |  | 22,225 |
Preferred dividends |  | 200 |  |  | 18,050 |  |  |  | 18,000 |  |  |  | 17,748 |  |  |  | 9,455 |
Total fixed charges and preferred dividends | $ | 200 |  | $ | 19,838 |  |  | $ | 20,616 |  |  | $ | 21,450 |  |  | $ | 31,680 |
Ratio of net (loss) income to combined fixed charges and preferred dividends |  | (3,790 | %) |  | 130 | % |  |  | 978 | % |  |  | (288 | %) |  |  | 10 | %
Ratio of net (loss) income attributable to common and participating stockholders to combined fixed charges and preferred dividends |  | (3,890 | %) |  | 39 | % |  |  | 891 | % |  |  | (371 | %) |  |  | (20 | %)