Exhibit 2.s.2

Statements re: computation of ratios

(Dollars in Thousands, Except Ratios)

 

     For the years ended March 31,
(Dollars in Thousands, Except Per Share Amounts)		  
     2013      2012      2011      2010      2009  

Net investment income

    $ 16,488       $ 13,743       $ 16,171       $ 10,598       $ 13,388   

Add: fixed charges and preferred distributions

      4,800         1,435         1,191         3,612         5,681   

Less: preferred distributions

      2,850         198         —           —           —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Earnings

    $ 24,138       $ 15,376       $ 17,362       $ 14,210       $ 19,069   

Fixed charges and preferred distributions:

               

Interest expense

      1,127         768         690         1,984         5,349   

Amortization of deferred financing fees

      791         459         491         1,618         323   

Estimated interest component of rent

      32         10         10         10         9   

Preferred distributions

      2,850         198         —           —           —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges and preferred distributions

      4,800         1,435         1,191         3,612         5,681   

Ratio of earnings to combined fixed charges and preferred distributions

      5.0x         10.7x         14.6x         3.9x         3.4x   

The calculation of the ratio of earnings to combined fixed charges and preferred distributions is above. “Earnings” consist of net income from continuing operations before fixed charges. “Fixed charges” consist of interest expense, amortization of deferred financing fees and the portion of operating lease expense that represents interest. The portion of operating lease expense that represents interest is calculated by dividing the amount of rent expense, allocated to us by our Adviser as part of the administration fee payable under the Advisory Agreement, by three.