EXHIBIT 99.1
Published on September 29, 2017
Exhibit 99.1
Triangle Capital Corporation
Computation of Ratio of Earnings to Fixed Charges
|
Year Ended
12/31/2012
|
Year Ended
12/31/2013
|
Year Ended
12/31/2014
|
Year Ended
12/31/2015
|
Year Ended
12/31/2016
|
Six Months
Ended
6/30/2017
|
|||||||||||||||||||
Earnings: |
||||||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ |
60,063,517 |
$ |
81,211,880 |
$ |
28,362,448 |
$ |
47,857,252 |
$ |
34,256,432 |
$ |
5,165,494 |
||||||||||||
Add back: Income Tax Expense (Benefit) and Excise Taxes |
551,830 |
539,561 |
3,103,876 |
384,028 |
435,245 |
304,181 |
||||||||||||||||||
Add back: Fixed Charges |
17,242,709 |
20,647,256 |
21,180,153 |
28,148,018 |
26,720,572 |
14,024,130 |
||||||||||||||||||
Total Earnings |
$ |
77,858,056 |
$ |
102,398,697 |
$ |
52,646,477 |
$ |
76,389,298 |
$ |
61,412,249 |
$ |
19,493,805 |
||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest and other financing fees |
$ |
16,412,898 |
$ |
20,234,583 |
$ |
21,180,153 |
$ |
26,754,001 |
$ |
26,720,572 |
$ |
14,024,130 |
||||||||||||
Loss on extinguishment of debt |
829,811 |
412,673 |
— |
1,394,017 |
— |
— |
||||||||||||||||||
Total Fixed Charges |
$ |
17,242,709 |
$ |
20,647,256 |
$ |
21,180,153 |
$ |
28,148,018 |
$ |
26,720,572 |
$ |
14,024,130 |
||||||||||||
Ratio of Earnings to Fixed Charges |
4.52 |
4.96 |
2.49 |
2.71 |
2.30 |
1.39 |
||||||||||||||||||
Footnote disclosure:
Footnote (1) disclosure and calculation:
|
Year Ended
12/31/2012
|
Year Ended
12/31/2013
|
Year Ended
12/31/2014
|
Year Ended
12/31/2015
|
Year Ended
12/31/2016
|
Six Months
Ended
6/30/2017
|
|||||||||||||||||||
Earnings (excluding unrealized gains/losses): |
||||||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ |
60,063,517 |
$ |
81,211,880 |
$ |
28,362,448 |
$ |
47,857,252 |
$ |
34,256,432 |
$ |
5,165,494 |
||||||||||||
Add back: Income Tax Expense (Benefit) and Excise Taxes |
551,830 |
539,561 |
3,103,876 |
384,028 |
435,245 |
304,181 |
||||||||||||||||||
Add back: Fixed Charges |
17,242,709 |
20,647,256 |
21,180,153 |
28,148,018 |
26,720,572 |
14,024,130 |
||||||||||||||||||
Exclude: Unrealized (Gains) Losses |
2,878,015 |
(2,215,673 |
) |
44,162,962 |
(5,495,657 |
) |
26,170,244 |
23,551,313 |
||||||||||||||||
Total Earnings (excluding unrealized gains/losses) |
$ |
80,736,071 |
$ |
100,183,024 |
$ |
96,809,439 |
$ |
70,893,641 |
$ |
87,582,493 |
$ |
43,045,118 |
||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest and other financing fees |
$ |
16,412,898 |
$ |
20,234,583 |
$ |
21,180,153 |
$ |
26,754,001 |
$ |
26,720,572 |
$ |
14,024,130 |
||||||||||||
Loss on extinguishment of debt |
829,811 |
412,673 |
— |
1,394,017 |
— |
— |
||||||||||||||||||
Total Fixed Charges |
$ |
17,242,709 |
$ |
20,647,256 |
$ |
21,180,153 |
$ |
28,148,018 |
$ |
26,720,572 |
$ |
14,024,130 |
||||||||||||
Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges |
4.68 |
4.85 |
4.57 |
2.52 |
3.28 |
3.07 |
||||||||||||||||||
Footnote (2) disclosure and calculation:
|
Year Ended
12/31/2012
|
Year Ended
12/31/2013
|
Year Ended
12/31/2014
|
Year Ended
12/31/2015
|
Year Ended
12/31/2016
|
Six Months
Ended
6/30/2017
|
|||||||||||||||||||
Earnings (excluding unrealized and realized gains/losses): |
||||||||||||||||||||||||
Net Increase (Decrease) in Net Assets Resulting from Operations |
$ |
60,063,517 |
$ |
81,211,880 |
$ |
28,362,448 |
$ |
47,857,252 |
$ |
34,256,432 |
$ |
5,165,494 |
||||||||||||
Add back: Income Tax Expense (Benefit) and Excise Taxes |
551,830 |
539,561 |
3,103,876 |
384,028 |
435,245 |
304,181 |
||||||||||||||||||
Add back: Fixed Charges |
17,242,709 |
20,647,256 |
21,180,153 |
28,148,018 |
26,720,572 |
14,024,130 |
||||||||||||||||||
Exclude: Unrealized (Gains) Losses |
2,878,015 |
(2,215,673 |
) |
44,162,962 |
(5,495,657 |
) |
26,170,244 |
23,551,313 |
||||||||||||||||
Exclude: Realized (Gains) Losses |
(6,660,776 |
) |
(18,419,544 |
) |
(13,631,328 |
) |
27,489,463 |
(1,985,048 |
) |
8,149,407 |
||||||||||||||
Total Earnings (excluding unrealized and realized gains/losses) |
$ |
74,075,295 |
$ |
81,763,480 |
$ |
83,178,111 |
$ |
98,383,104 |
$ |
85,597,445 |
$ |
51,194,525 |
||||||||||||
Fixed Charges: |
||||||||||||||||||||||||
Interest and other financing fees |
$ |
16,412,898 |
$ |
20,234,583 |
$ |
21,180,153 |
$ |
26,754,001 |
$ |
26,720,572 |
$ |
14,024,130 |
||||||||||||
Loss on extinguishment of debt |
829,811 |
412,673 |
— |
1,394,017 |
— |
— |
||||||||||||||||||
Total Fixed Charges |
$ |
17,242,709 |
$ |
20,647,256 |
$ |
21,180,153 |
$ |
28,148,018 |
$ |
26,720,572 |
$ |
14,024,130 |
||||||||||||
Ratio of Earnings (Excluding Unrealized Gain/Loss) to Fixed Charges |
4.30 |
3.96 |
3.93 |
3.50 |
3.20 |
3.65 |
||||||||||||||||||