EX-99.1 2 ex991ratioofearnstofixed20.htm EXHIBIT 99.1 RATION OF EARNS Ex 99.1 Ratio of Earns to Fixed 2015 April POS 8C


Exhibit 99.1
Triangle Capital Corporation
Computation of Ratio of Earnings to Fixed Charges
 
 
 
Year Ended
12/31/2010
 
Year Ended
12/31/2011
 
Year Ended
12/31/2012
 
Year Ended
12/31/2013
 
Year Ended
12/31/2014
Earnings:
 
 
 
 
 
 
 
 
 
 
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
25,390,549

 
$
56,771,037

 
$
60,063,517

 
$
81,211,880

 
$
28,362,448

Add back: Income Tax Expense (Benefit) and Excise Taxes
 
220,740

 
908,416

 
551,830

 
539,561

 
3,103,876

Add back: Fixed Charges
 
8,147,006

 
11,059,503

 
17,242,709

 
20,647,256

 
21,180,153

Total Earnings
 
$
33,758,295

 
$
68,738,956

 
$
77,858,056

 
$
102,398,697

 
$
52,646,477

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest and other financing fees
 
$
7,782,380

 
$
10,901,913

 
$
16,412,898

 
$
20,234,583

 
$
21,180,153

Loss on extinguishment of debt
 
364,626

 
157,590

 
829,811

 
412,673

 
—

Total Fixed Charges
 
$
8,147,006

 
$
11,059,503

 
$
17,242,709

 
$
20,647,256

 
$
21,180,153

Ratio of Earnings to Fixed Charges
 
4.14

 
6.22

 
4.52

 
4.96

 
2.49

Footnote disclosure:
Footnote (1) disclosure and calculation: 
 
 
Year Ended
12/31/2010
 
Year Ended
12/31/2011
 
Year Ended
12/31/2012
 
Year Ended
12/31/2013
 
Year Ended
12/31/2014
Earnings (excluding unrealized gains/losses):
 
 
 
 
 
 
 
 
 
 
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
25,390,549

 
$
56,771,037

 
$
60,063,517

 
$
81,211,880

 
$
28,362,448

Add back: Income Tax Expense (Benefit) and Excise Taxes
 
220,740

 
908,416

 
551,830

 
539,561

 
3,103,876

Add back: Fixed Charges
 
8,147,006

 
11,059,503

 
17,242,709

 
20,647,256

 
21,180,153

Exclude: Unrealized (Gains) Losses
 
(10,940,689
)
 
(6,367,473
)
 
2,878,015

 
(2,215,673
)
 
44,162,962

Total Earnings (excluding unrealized gains/losses)
 
$
22,817,606

 
$
62,371,483

 
$
80,736,071

 
$
100,183,024

 
$
96,809,439

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest and other financing fees
 
$
7,782,380

 
$
10,901,913

 
$
16,412,898

 
$
20,234,583

 
$
21,180,153

Loss on extinguishment of debt
 
364,626

 
157,590

 
829,811

 
412,673

 
—

Total Fixed Charges
 
$
8,147,006

 
$
11,059,503

 
$
17,242,709

 
$
20,647,256

 
$
21,180,153

Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges
 
2.80

 
5.64

 
4.68

 
4.85

 
4.57





Footnote (2) disclosure and calculation: 
 
 
Year Ended
12/31/2010
 
Year Ended
12/31/2011
 
Year Ended
12/31/2012
 
Year Ended
12/31/2013
 
Year Ended
12/31/2014
Earnings (excluding unrealized and realized gains/losses):
 
 
 
 
 
 
 
 
 
 
Net Increase (Decrease) in Net Assets Resulting from Operations
 
$
25,390,549

 
$
56,771,037

 
$
60,063,517

 
$
81,211,880

 
$
28,362,448

Add back: Income Tax Expense (Benefit) and Excise Taxes
 
220,740

 
908,416

 
551,830

 
539,561

 
3,103,876

Add back: Fixed Charges
 
8,147,006

 
11,059,503

 
17,242,709

 
20,647,256

 
21,180,153

Exclude: Unrealized (Gains) Losses
 
(10,940,689
)
 
(6,367,473
)
 
2,878,015

 
(2,215,673
)
 
44,162,962

Exclude: Realized (Gains) Losses
 
5,478,873

 
(10,973,487
)
 
(6,660,776
)
 
(18,419,544
)
 
(13,631,328
)
Total Earnings (excluding unrealized and realized gains/losses)
 
$
28,296,479

 
$
51,397,996

 
$
74,075,295

 
$
81,763,480

 
$
83,178,111

Fixed Charges:
 
 
 
 
 
 
 
 
 
 
Interest and other financing fees
 
$
7,782,380

 
$
10,901,913

 
$
16,412,898

 
$
20,234,583

 
$
21,180,153

Loss on extinguishment of debt
 
364,626

 
157,590

 
829,811

 
412,673

 
—

Total Fixed Charges
 
$
8,147,006

 
$
11,059,503

 
$
17,242,709

 
$
20,647,256

 
$
21,180,153

Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges
 
3.47

 
4.65

 
4.30

 
3.96

 
3.93