EXHIBIT 99.1 RATIO CALCS
Published on December 4, 2014
Exhibit 99.1
Triangle Capital Corporation
Computation of Ratio of Earnings to Fixed Charges
|
Year Ended
12/31/2009
|
Year Ended
12/31/2010
|
Year Ended
12/31/2011
|
Year Ended
12/31/2012
|
Year Ended
12/31/2013
|
Nine Months Ended
9/30/2014
|
|||||||||||||||||||
Earnings: |
||||||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ |
4,036,703 |
$ |
25,390,549 |
$ |
56,771,037 |
$ |
60,063,517 |
$ |
81,211,880 |
$ |
27,884,510 |
||||||||||||
Add back: Income Tax Expense (Benefit) and Excise Taxes |
149,841 |
220,740 |
908,416 |
551,830 |
539,561 |
975,782 |
||||||||||||||||||
Add back: Fixed Charges |
7,264,409 |
8,147,006 |
11,059,503 |
17,242,709 |
20,647,256 |
15,591,022 |
||||||||||||||||||
Total Earnings |
$ |
11,450,953 |
$ |
33,758,295 |
$ |
68,738,956 |
$ |
77,858,056 |
$ |
102,398,697 |
$ |
44,451,314 |
||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest and other financing fees |
$ |
7,264,409 |
$ |
7,782,380 |
$ |
10,901,913 |
$ |
16,412,898 |
$ |
20,234,583 |
$ |
15,591,022 |
||||||||||||
Loss on extinguishment of debt |
— |
364,626 |
157,590 |
829,811 |
412,673 |
— |
||||||||||||||||||
Total Fixed Charges |
$ |
7,264,409 |
$ |
8,147,006 |
$ |
11,059,503 |
$ |
17,242,709 |
$ |
20,647,256 |
$ |
15,591,022 |
||||||||||||
Ratio of Earnings to Fixed Charges |
1.58 |
4.14 |
6.22 |
4.52 |
4.96 |
2.85 |
||||||||||||||||||
Footnote disclosure:
Footnote (1) disclosure and calculation:
|
Year Ended
12/31/2009
|
Year Ended
12/31/2010
|
Year Ended
12/31/2011
|
Year Ended
12/31/2012
|
Year Ended
12/31/2013
|
Nine Months Ended
9/30/2014
|
|||||||||||||||||||
Earnings (excluding unrealized gains/losses): |
||||||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ |
4,036,703 |
$ |
25,390,549 |
$ |
56,771,037 |
$ |
60,063,517 |
$ |
81,211,880 |
$ |
27,884,510 |
||||||||||||
Add back: Income Tax Expense (Benefit) and Excise Taxes |
149,841 |
220,740 |
908,416 |
551,830 |
539,561 |
975,782 |
||||||||||||||||||
Add back: Fixed Charges |
7,264,409 |
8,147,006 |
11,059,503 |
17,242,709 |
20,647,256 |
15,591,022 |
||||||||||||||||||
Exclude: Unrealized (Gains) Losses |
10,310,194 |
(10,940,689 |
) |
(6,367,473 |
) |
2,878,015 |
(2,215,673 |
) |
31,843,758 |
|||||||||||||||
Total Earnings (excluding unrealized gains/losses) |
$ |
21,761,147 |
$ |
22,817,606 |
$ |
62,371,483 |
$ |
80,736,071 |
$ |
100,183,024 |
$ |
76,295,072 |
||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest and other financing fees |
$ |
7,264,409 |
$ |
7,782,380 |
$ |
10,901,913 |
$ |
16,412,898 |
$ |
20,234,583 |
$ |
15,591,022 |
||||||||||||
Loss on extinguishment of debt |
— |
364,626 |
157,590 |
829,811 |
412,673 |
— |
||||||||||||||||||
Total Fixed Charges |
$ |
7,264,409 |
$ |
8,147,006 |
$ |
11,059,503 |
$ |
17,242,709 |
$ |
20,647,256 |
$ |
15,591,022 |
||||||||||||
Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges |
3.00 |
2.80 |
5.64 |
4.68 |
4.85 |
4.89 |
||||||||||||||||||
Footnote (2) disclosure and calculation:
|
Year Ended
12/31/2009
|
Year Ended
12/31/2010
|
Year Ended
12/31/2011
|
Year Ended
12/31/2012
|
Year Ended
12/31/2013
|
Nine Months Ended
9/30/2014
|
|||||||||||||||||||
Earnings (excluding unrealized and realized gains/losses): |
||||||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ |
4,036,703 |
$ |
25,390,549 |
$ |
56,771,037 |
$ |
60,063,517 |
$ |
81,211,880 |
$ |
27,884,510 |
||||||||||||
Add back: Income Tax Expense (Benefit) and Excise Taxes |
149,841 |
220,740 |
908,416 |
551,830 |
539,561 |
975,782 |
||||||||||||||||||
Add back: Fixed Charges |
7,264,409 |
8,147,006 |
11,059,503 |
17,242,709 |
20,647,256 |
15,591,022 |
||||||||||||||||||
Exclude: Unrealized (Gains) Losses |
10,310,194 |
(10,940,689 |
) |
(6,367,473 |
) |
2,878,015 |
(2,215,673 |
) |
31,843,758 |
|||||||||||||||
Exclude: Realized (Gains) Losses |
(448,164 |
) |
5,478,873 |
(10,973,487 |
) |
(6,660,776 |
) |
(18,419,544 |
) |
(16,785,723 |
) |
|||||||||||||
Total Earnings (excluding unrealized and realized gains/losses) |
$ |
21,312,983 |
$ |
28,296,479 |
$ |
51,397,996 |
$ |
74,075,295 |
$ |
81,763,480 |
$ |
59,509,349 |
||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest and other financing fees |
$ |
7,264,409 |
$ |
7,782,380 |
$ |
10,901,913 |
$ |
16,412,898 |
$ |
20,234,583 |
$ |
15,591,022 |
||||||||||||
Loss on extinguishment of debt |
— |
364,626 |
157,590 |
829,811 |
412,673 |
— |
||||||||||||||||||
Total Fixed Charges |
$ |
7,264,409 |
$ |
8,147,006 |
$ |
11,059,503 |
$ |
17,242,709 |
$ |
20,647,256 |
$ |
15,591,022 |
||||||||||||
Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges |
2.93 |
3.47 |
4.65 |
4.30 |
3.96 |
3.82 |
||||||||||||||||||