Attached files
| file | filename |
|---|---|
| 10-K - 10-K - QUANTUM CORP /DE/ | a0331201710k.htm |
| EX-32.2 - EXHIBIT 32.2 - QUANTUM CORP /DE/ | a03312017exhibit-322.htm |
| EX-32.1 - EXHIBIT 32.1 - QUANTUM CORP /DE/ | a03312017exhibit-321.htm |
| EX-31.2 - EXHIBIT 31.2 - QUANTUM CORP /DE/ | a03312017exhibit-312.htm |
| EX-31.1 - EXHIBIT 31.1 - QUANTUM CORP /DE/ | a03312017exhibit-311.htm |
| EX-23 - EXHIBIT 23 - QUANTUM CORP /DE/ | a03312017exhibit-23.htm |
| EX-21 - EXHIBIT 21 - QUANTUM CORP /DE/ | a03312017exhibit-21.htm |
Exhibit 12.1
QUANTUM CORPORATION
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
For the year ended March 31, | |||||||||||||||||||
(dollars in thousands) | 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 4,757 | $ | (73,500 | ) | $ | 17,478 | $ | (20,257 | ) | $ | (51,018 | ) | ||||||
Add fixed charges | 10,313 | 9,039 | 12,079 | 13,145 | 12,078 | ||||||||||||||
Earnings (as defined) | $ | 15,070 | $ | (64,461 | ) | $ | 29,557 | $ | (7,112 | ) | $ | (38,940 | ) | ||||||
Fixed charges: | |||||||||||||||||||
Interest expense | $ | 7,953 | $ | 6,893 | $ | 9,755 | $ | 9,754 | $ | 8,342 | |||||||||
Amortization of debt issuance costs | (i), (ii) | (i), (iii) | (i), (iv) | (i) | (i) | ||||||||||||||
Estimated interest component of rent expenses | 2,360 | 2,146 | 2,324 | 3,391 | 3,736 | ||||||||||||||
Total fixed charges | $ | 10,313 | $ | 9,039 | $ | 12,079 | $ | 13,145 | $ | 12,078 | |||||||||
Ratio of earnings to fixed charges (v) | n/a | n/a | — | n/a | n/a | ||||||||||||||
____________________
(i) | In all years presented, the amortization of debt issuance costs is included in interest expense. |
(ii) | Interest expense for fiscal 2017 in this table is comprised of: (a) $8.0 million of interest expense and amortization of debt issuance costs as presented in interest expense in the Consolidated Statements of Operations. |
(iii) | Interest expense for fiscal 2016 in this table is comprised of: (a) $6.8 million of interest expense and amortization of debt issuance costs as presented in interest expense in the Consolidated Statements of Operations and (b) $0.1 million of debt issuance costs written off related to the $81.0 million of 3.50% subordinated convertible notes purchased in fiscal 2016. The $0.1 million debt issuance costs written off are included in the loss on debt extinguishment in the Consolidated Statements of Operations for fiscal 2016. |
(iv) | Interest expense for fiscal 2015 in this table is comprised of: (a) $9.5 million of interest expense and amortization of debt issuance costs as presented in interest expense in the Consolidated Statements of Operations and (b) $0.3 million of debt issuance costs written off related to the $50 million of 3.50% subordinated convertible notes purchased in fiscal 2015. The $0.3 million debt issuance costs written off are included in the loss on debt extinguishment in the Consolidated Statements of Operations for fiscal 2015. |
(v) | Earnings, as defined, were insufficient to cover fixed charges by $4.8 million, $73.5 million, $20.3 million and $51.0 million for fiscal years 2017, 2016, 2014 and 2013, respectively. |