Form: S-3ASR

Automatic shelf registration statement of securities of well-known seasoned issuers

May 10, 2018


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Exhibit 12.1

RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(In thousands, except Ratio Data)

 
   
  Year Ended  
 
  Three Months
Ended
March 31,
2018
 
 
  December 31,
2017
  December 31,
2016
  December 31,
2015
 

Earnings:

                         

Income (loss) from Continuing Operations before Taxes

    47,061     15,741     (81,119 )   (71,241 )

Add: Interest Expense

    1,261     7,347     20,387     21,641  

Add: Lease Interest Estimated based on 1/3 of Lease Rent

    125     463     451     454  

Less: Capitalized Interest

    —     —     —     —  

Total Earnings

    48,447     23,551     (60,281 )   (49,146 )

Fixed Charges:

                         

Interest Expense

    1,261     7,347     20,387     21,641  

Lease Interest Estimated based on 1/3 of Lease Rent

    125     463     451     454  

Total Fixed Charges

    1,386     7,810     20,838     22,095  

Ratio of Earnings to Fixed Charges

    35.0     3.0     — (1)   — (2)

Preferred Stock Dividend Requirements

    —     —     —     —  

Total Fixed Charges Plus Total Preferred Stock Dividends

    1,386     7,810     20,838     22,095  

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

    35.0     3.0     — (1)   — (2)

(1)
Earnings were inadequate to cover fixed charges by $81.1 million for the year ended December 31, 2016.

(2)
Earnings were inadequate to cover fixed charges by $71.2 million for the year ended December 31, 2015.



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RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (In thousands, except Ratio Data)