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)

  
     2014      2013      2012      2011      2010  

Net investment income

    $ 19,307       $ 16,488       $ 13,743       $ 16,171       $ 10,598   

Add: fixed charges and preferred distributions

      5,959         4,779         1,435         1,191         3,612   
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Earnings

    $ 25,266       $ 21,267       $ 15,178       $ 17,362       $ 14,210   

Fixed charges and preferred distributions:

               

Interest expense

      2,075         1,127         768         690         1,984   

Amortization of deferred financing fees

      1,024         791         459         491         1,618   

Estimated interest component of rent

      10         11         10         10         10   

Preferred distributions

      2,850         2,850         198         —           —     
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total fixed charges and preferred distributions

      5,959         4,779         1,435         1,191         3,612   

Ratio of earnings to combined fixed charges and preferred distributions

      4.2x         4.5x         10.6x         14.6x         3.9x   

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.