Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - AMBAC FINANCIAL GROUP INC | a02-011ambcex32x1x3q1710q.htm |
| EX-31.2 - EXHIBIT 31.2 - AMBAC FINANCIAL GROUP INC | a02-011ambcex31x2x1q1710q.htm |
| EX-31.1 - EXHIBIT 31.1 - AMBAC FINANCIAL GROUP INC | a02-011ambcex31x1x1q1710q.htm |
| 10-Q - 10-Q - AMBAC FINANCIAL GROUP INC | a02-011ambcx20170331x10q.htm |
Exhibit 12.1
AMBAC FINANCIAL GROUP, INC.
RATIOS OF EARNINGS TO FIXED CHARGES
Successor | Predecessor | ||||||||||||||||||||||||
Three Months Ended March 31, 2017 | Period from May 1 through December 31, 2013 | Period from Jan 1 through April 30, 2013 | |||||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||||||
($ in thousands, except ratios) | 2016 | 2015 | 2014 | ||||||||||||||||||||||
Earnings: | |||||||||||||||||||||||||
Pre-tax income (loss) | $ | (105,860 | ) | $ | 105,026 | $ | 510,058 | $ | 493,253 | $ | 512,316 | $ | 3,348,033 | ||||||||||||
Fixed Charges | 30,537 | 119,503 | 115,016 | 127,754 | 84,736 | 30,342 | |||||||||||||||||||
Earnings | $ | (75,323 | ) | $ | 224,529 | $ | 625,074 | $ | 621,007 | $ | 597,052 | $ | 3,378,375 | ||||||||||||
Fixed charges: | |||||||||||||||||||||||||
Interest expense | $ | 30,300 | $ | 118,500 | $ | 113,100 | $ | 125,891 | $ | 83,595 | $ | 29,718 | |||||||||||||
Portion of rental expense deemed to be interest | 237 | 1,003 | 1,916 | 1,863 | 1,141 | 624 | |||||||||||||||||||
Fixed charges | $ | 30,537 | $ | 119,503 | $ | 115,016 | $ | 127,754 | $ | 84,736 | $ | 30,342 | |||||||||||||
Ratio of earnings to fixed charges | * | 1.9 | x | 5.4 | x | 4.9 | x | 7.0 | x | 111.3 | x | ||||||||||||||
* Earnings for the three months ended March 31, 2017 were inadequate to cover fixed charges by 105,860.