Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - UNITED INSURANCE HOLDINGS CORP. | d504829d8k.htm |
| EX-5.1 - EX-5.1 - UNITED INSURANCE HOLDINGS CORP. | d504829dex51.htm |
| EX-4.1 - EX-4.1 - UNITED INSURANCE HOLDINGS CORP. | d504829dex41.htm |
| EX-4.2 - EX-4.2 - UNITED INSURANCE HOLDINGS CORP. | d504829dex42.htm |
| EX-1.1 - EX-1.1 - UNITED INSURANCE HOLDINGS CORP. | d504829dex11.htm |
Exhibit 12.1
United Insurance Holdings Corp.
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratios)
| Includes realized gains and losses | For the Nine Months Ended September 30, |
For the Year Ended December 31, | ||||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||
| Earnings before income taxes |
$ | (26,899 | ) | $ | 7,003 | $ | 41,860 | $ | 64,410 | $ | 34,487 | $ | 15,714 | |||||||||||
| Fixed charges: |
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| Interest expensed and capitalized |
2,282 | 723 | 326 | 410 | 367 | 355 | ||||||||||||||||||
| Amortized premiums, discounts and capitalized expenses related to debt |
— | — | — | — | — | — | ||||||||||||||||||
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| Interest within rental expense |
14 | 16 | 74 | 63 | 56 | 39 | ||||||||||||||||||
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| Total fixed charges |
$ | 2,296 | $ | 739 | $ | 400 | $ | 473 | $ | 423 | $ | 394 | ||||||||||||
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| Earnings before income taxes and fixed charges |
$ | (24,603 | ) | $ | 7,742 | $ | 42,260 | $ | 64,883 | $ | 34,910 | $ | 16,108 | |||||||||||
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| Ratio of earnings to fixed charges |
— | (1) | 10.47 | 105.71 | 137.28 | 82.56 | 40.89 | |||||||||||||||||
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| (1) | For the nine months ended September 30, 2017, earnings were insufficient to cover fixed charges by $27.0 million. |
For purposes of calculating these ratios, earnings consist of pre-tax income from continuing operations and fixed charges. Fixed charges consist of interest expensed and capitalized; amortized premiums, discounts and capitalized expenses related to debt; and estimated interest within rental expense.
We did not have any preferred stock outstanding and we did not pay or accrue any preferred stock dividends during the periods presented above.