EX-12.1 4 d380926dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

Sterling Construction Company, Inc.

Ratio of Earnings to Fixed Charges

(Dollars in thousands)

 

                                                                                                        
     Fiscal Year Ended December 31,     Three Months Ended
March 31,		  
     2012     2013     2014     2015     2016     2016     2017  

Earnings

               

Net Income (loss)

    $ 17,712     $ (70,026 )    $ (5,225 )    $ (17,186 )    $ (7,412 )    $ (7,336 )    $ (1,886 ) 

Plus: Fixed Charges

      1,147       1,014       1,662       3,617       4,062       996       515  

Less: Interest Capitalized

      —         —         —         —         —         —         —    

Plus: Amortization of interest capitalized

      —         —         —         —         —         —         —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings

    $ 18,859     $ (69,012 )      (3,563 )      (13,569 )      (3,350 )      (6,340 )      (1,361 ) 

Fixed Charges

               

Interest expense on indebtedness

    $ 944     $ 616     $ 1,123     $ 3,012     $ 2,626     $ 873     $ 112  

Interest capitalized

      —         —         —         —         —         —         —    

Interest expense included in rent

      203       398       539       605       1,434       131       413  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 1,147     $ 1,014     $ 1,662     $ 3,617     $ 4,062     $ 1,004     $ 525  
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges(1)(2)

      16.4 x      —         —         —         —         —         —    
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) For purposes of determining the ratio of earnings to fixed charges, “earnings” are defined as net income (loss) before noncontrolling owners’ interests and fixed charges less capitalized interest plus amortization of interest capitalized. “Fixed charges” consist of interest (whether expensed or capitalized) and interest included in rent.
(2) For the years ended December 31, 2013, 2014, 2015 and 2016 and the three months ended March 31, 2016 and 2017, we had earnings to fixed charges deficiency of $68.1 million, $2.1 million, $3.8 million, $0.8 million, $6.3 million and $2.6 million, respectively.