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8-K - FORM 8-K - Quotient Ltd | d586819d8k.htm |
Exhibit 12.1
Quotient Limited
Statement of Computation of Ratio of Earnings to Combined Fixed Charges and Preference Share Dividends
The following table sets forth the calculation of our fixed charges and preference share dividends for the three months ended June 30, 2018 and for the years ended March 31, 2014, 2015, 2016, 2017 and 2018.
Year ended March 31, | Three months ended June 30, 2018 |
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2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||||||
(Expressed in thousands of U.S. Dollars) | ||||||||||||||||||||||||
Fixed charges |
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Interest expense: |
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Interest on debt and finance leases |
$ | 612 | $ | 1,364 | $ | 2,246 | $ | 6,117 | $ | 10,116 | $ | 2,564 | ||||||||||||
Amortization of deferred funding costs |
464 | 776 | 855 | 2,736 | 4,362 | 291 | ||||||||||||||||||
Accrued preference share dividends |
| 175 | 1,050 | 1,050 | 1,050 | 263 | ||||||||||||||||||
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Interest expense |
$ | 1,076 | $ | 2,315 | $ | 4,151 | $ | 9,903 | $ | 15,528 | $ | 3,117 | ||||||||||||
Interest element of operating leases |
685 | 1,229 | 1,908 | 1,951 | 2,094 | 870 | ||||||||||||||||||
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Total fixed charges |
$ | 1,761 | $ | 3,544 | $ | 6,059 | $ | 11,854 | $ | 17,622 | $ | 3,987 | ||||||||||||
Preference share dividends |
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Combined fixed charges and preference share dividends |
$ | 1,761 | $ | 3,544 | $ | 6,059 | $ | 11,854 | $ | 17,622 | $ | 3,987 | ||||||||||||
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We have incurred losses in each of the periods concerned and thus our earnings were insufficient to cover the combined fixed charges by $3.987 million for the three months ended June 30, 2018, and $1.761 million, $3.544 million, $6.059 million, $11.854 million and $17.622 million for the years ended March 31, 2014, 2015, 2016, 2017 and 2018, respectively.