EX-12 7 d682842dex12.htm EX-12 EX-12

Exhibit 12

Calculation of Consolidated Ratios of Earnings to Fixed Charges

Casella Waste Systems, Inc.

Statement of Computation of Ratio of Earnings to Fixed Charges and Earnings to Combined Fixed Charges and Preferred Stock Dividends

(in thousands, except ratios)

 

     Nine Months
Ended
January 31,		     Fiscal Year Ended April 30,  
     2014     2013     2012     2011     2010     2009  

Loss from continuing operations before income taxes, discontinued operations and cumulative effect of change in accounting principle

    $ (10,402 )    $ (52,509 )    $ (76,110 )    $ (26,687 )    $ (12,041 )    $ (64,351 ) 

Loss from equity method investments

      998        4,441        9,994        4,096        2,690        2,157   

Impairment of equity method investment

      —          —          10,680        —          —          —     

Fixed charges

      30,842        44,394        47,504        48,250        46,210        35,605   

Less: interest capitalized

      (249 )      (368 )      (407 )      (1,078 )      (349 )      (214 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings

    $ 21,189      $ (4,042 )    $ (8,339 )    $ 24,581      $ 36,510      $ (26,803 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Interest expense (includes amortization of premium and discounts and deferred financing charges)

    $ 28,562      $ 41,570      $ 45,008      $ 45,543      $ 44,218      $ 33,803   

Estimate of interest within rental expense

      2,031        2,456        2,089        1,629        1,643        1,588   

Interest capitalized

      249        368        407        1,078        349        214   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges

    $ 30,842      $ 44,394      $ 47,504      $ 48,250      $ 46,210      $ 35,605   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
            

Ratio of earnings to fixed charges

      —          —          —          —          —          —     

Deficiency of earnings to fixed charges

    $ (9,653 )    $ (48,436 )    $ (55,843 )    $ (23,669 )    $ (9,700 )    $ (62,408 ) 

Fixed charges from above

    $ 30,842      $ 44,394      $ 47,504      $ 48,250      $ 46,210      $ 35,605   

Preferred stock dividends

      —          —          —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Combined fixed charges and preferred stock dividends

    $ 30,842      $ 44,394      $ 47,504      $ 48,250      $ 46,210      $ 35,605   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
            

Ratio of earnings to combined fixed charges and preferred stock dividends

      —          —          —          —          —          —     

Deficiency of earnings to combined fixed charges and preferred stock dividends

    $ (9,653 )    $ (48,436 )    $ (55,843 )    $ (23,669 )    $ (9,700 )    $ (62,408 )