Attached files

file filename
EX-32.2 - EX-32.2 - Mr. Cooper Group Inc.wmih-ex322_9.htm
EX-31.2 - EX-31.2 - Mr. Cooper Group Inc.wmih-ex312_7.htm
EX-32.1 - EX-32.1 - Mr. Cooper Group Inc.wmih-ex321_6.htm
EX-31.1 - EX-31.1 - Mr. Cooper Group Inc.wmih-ex311_11.htm
EX-23.1 - EX-23.1 - Mr. Cooper Group Inc.wmih-ex231_154.htm
10-K - 10-K - Mr. Cooper Group Inc.wmih-10k_20151231.htm

Exhibit 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED DIVIDENDS

(dollars in thousands)

 

Successor*

 

 

 

Predecessor*

 

 

Year Ended December 31, 2015

 

 

Year Ended December 31, 2014

 

 

Year Ended December 31, 2013

 

 

Period from March 20, 2012 through December 31, 2012

 

 

 

Period from January 1, 2012 through March 19, 2012

 

 

Year Ended December 31, 2011

 

Net (loss) income

$

(61,833

)

 

$

3,070

 

 

$

338

 

 

$

(12,353

)

 

 

$

(3,433

)

 

$

(10,873

)

Preferred deemed dividends

 

 

 

 

(9,455

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Series B preferred stock dividends

 

(17,748

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income attributable to common and participating stockholders

$

(79,581

)

 

$

(6,385

)

 

$

338

 

 

$

(12,353

)

 

 

$

(3,433

)

 

$

(10,873

)

Interest on runoff notes

$

3,702

 

 

$

8,993

 

 

$

14,897

 

 

$

13,511

 

 

 

$

 

 

$

 

Interest charges due to debt facility termination

 

 

 

 

13,232

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges

 

3,702

 

 

 

22,225

 

 

 

14,897

 

 

 

13,511

 

 

 

 

 

 

 

 

Preferred dividends

 

17,748

 

 

 

9,455

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total fixed charges and preferred dividends

$

21,450

 

 

$

31,680

 

 

$

14,897

 

 

$

13,511

 

 

 

$

 

 

$

 

Ratio of net (loss) income to combined fixed charges and preferred dividends

 

-288.3

%

 

 

9.7

%

 

 

2.3

%

 

 

-91.4

%

 

 

N/A

 

 

N/A

 

Ratio of net (loss) income attributable to common and participating stockholders to combined fixed charges and preferred dividends

 

-371.0

%

 

 

-20.15

%

 

 

2.3

%

 

 

-91.4

%

 

 

N/A

 

 

N/A

 

* Material differences, including with respect to its business operations, financial performance, asset size and other factors, exist with respect to the pre-petition operations and financial position of Washington Mutual Inc. and its subsidiaries as compared with the post-emergence operations and financial position of WMIH Corp. and its subsidiaries. In order to address such differences, in preparing these and future financial statements, management has concluded that it is appropriate to use the financial information of WMIH’s wholly-owned subsidiary, WM Mortgage Reinsurance Company, Inc. as the basis for its pre-emergence financial reporting. Information in these financial statements labeled as “Predecessor” refers to periods prior to the adoption of fresh start reporting, while those labeled as “Successor” refer to periods following the Company’s reorganization and emergence from bankruptcy.