EX-12.1 5 d417648dex121.htm EX-12.1

EX-12.1

Exhibit 12.1

COMPUTATION OF RATION OF EARNINGS TO FIXED CHARGES

Our earnings are inadequate to cover fixed charges. The following table sets forth the dollar amount of the coverage deficiency for each of the three-months ended June 30, 2017 and 2016, the each of the years ended December 31, 2016, 2015, 2014, 2013 and 2012. We have not included a ratio of earnings to combined fixed charges and preferred stock dividends because we do not have earnings. We have derived the deficiency of earnings to cover fixed charges from our historical financial statements. The following should be read in conjunction with our consolidated financial statements, including the notes thereto, and the other financial information included or incorporated by reference herein.

		Three Months Ended June 30,								Year Ended December 31,
		2017				2016				2016				2015				2014				2013				2012
(dollars in thousands)		(in thousands)								(in thousands)
Net loss		$	(25,507	)		$	(18,499	)		$	(74,375	)		$	(31,696	)		$	(66,160	)		$	(79,293	)		$	(94,465	)
Add back: Fixed charges			982				799				3,252				3,017				3,011				2,668				471
Total adjusted net loss			(24,525	)			(17,700	)		$	(71,123	)		$	(28,679	)		$	(63,149	)		$	(76,625	)		$	(93,994	)
Fixed charges:
Interest expense			853				795				3,234				2,926				2,828				2,478				275
Interest portion of rental expense			129				4				18				91				183				190				196
Total fixed charges			982				799				3,252				3,017				3,011				2,668				471
Deficiency of earnings available to fixed charges (1)		$	(25,507	)		$	(18,499	)		$	(74,375	)		$	(31,696	)		$	(66,160	)		$	(79,293	)		$	(94,465	)

(1) Because of the deficiency of earnings available to cover fixed charges, the ratio information is not applicable.