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NMI Holdings, Inc. – ‘S-3ASR’ on 2/26/18 – ‘EX-12’

On:  Monday, 2/26/18, at 4:08pm ET   ·   Effective:  2/26/18   ·   Accession #:  1140361-18-10141   ·   File #:  333-223223

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 2/26/18  NMI Holdings, Inc.                S-3ASR      2/26/18    4:557K                                   Broadridge Fin’l So… Inc

Automatic Shelf Registration Statement for Securities of a Well-Known Seasoned Issuer   —   Form S-3
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: S-3ASR      Automatic Shelf Registration Statement for          HTML    342K 
                          Securities of a Well-Known Seasoned                    
                          Issuer                                                 
 2: EX-5        Exhibit 5.1                                         HTML     28K 
 3: EX-12       Statement re: Computation of Ratios                 HTML     24K 
 4: EX-23.1     Consent of Experts or Counsel                       HTML      6K 


EX-12   —   Statement re: Computation of Ratios


This exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]




Exhibit 12
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
 
 
 
Year-ended December 31,
 
 ($ in thousands)
 
2017
   
2016
   
2015
   
2014
   
2013
 
FIXED CHARGES:(1)
                             
Interest expense
 
$
12,055
   
$
12,934
   
$
1,806
   
$
   
$
 
Amortization of debt premium and debt issue costs
   
1,473
     
1,914
     
251
     
     
 
Estimated interest expense within rental expense
   
     
     
     
     
 
Total fixed charges
 
$
13,528
   
$
14,848
   
$
2,057
   
$
   
$
 
                                         
EARNINGS:
                                       
Net income (loss) before taxes
 
$
52,792
   
$
11,542
   
$
(27,793
)
 
$
(51,292
)
 
$
(55,184
)
Add Back: total fixed charges
   
13,528
     
14,848
     
2,057
     
     
 
Net earnings (loss) and fixed charges
 
$
66,320
   
$
26,300
   
$
(25,736
)
 
$
(51,292
)
 
$
(55,184
)
                                         
RATIOS:
                                       
Ratio of net earnings (loss) and fixed charges to fixed charges
   
4.90
     
1.77
     
(12.51
)(2)
   
N/A
(3) 
   
N/A
(3) 


(1)
We did not have any preferred stock outstanding and we did not pay or accrue any preferred stock dividends during the periods presented.
(2)
Total earnings were insufficient to cover fixed charges by $27.8 million in 2015.
(3)
We had no fixed charges in 2014 and 2013 and total losses of $51.3 million and $55.2 million in 2014 and 2013, respectively.


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Filing Submission 0001140361-18-010141   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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