Exhibit 12.1
WESTLAKE CHEMICAL CORPORATION
STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(thousands of dollars)
For the years ended December 31, | For the three months ended March 31, | |||||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | 2012 | |||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Income (Loss) before Income Taxes | $ | 401,432 | $ | 342,960 | $ | 78,753 | $ | (58,022 | ) | $ | 158,957 | $ | 134,795 | |||||||||||
Fixed Charges | 65,513 | 54,886 | 50,836 | 52,031 | 34,507 | 16,153 | ||||||||||||||||||
Amortization of Capitalized Interest | — | — | — | — | — | — | ||||||||||||||||||
Equity Investee Distributions | 2,463 | — | — | — | — | 1,041 | ||||||||||||||||||
Capitalized Interest | (693 | ) | (22 | ) | (123 | ) | (3,198 | ) | (2,181 | ) | (736 | ) | ||||||||||||
Equity Investment (Income) Loss | (2,890 | ) | (2,212 | ) | (3,818 | ) | (621 | ) | (2,796 | ) | (339 | ) | ||||||||||||
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Total Earnings Available for Fixed Charges | $ | 465,825 | $ | 395,612 | $ | 125,648 | $ | (9,810 | ) | $ | 188,487 | $ | 150,914 | |||||||||||
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Fixed charges | ||||||||||||||||||||||||
Interest Expense | $ | 50,922 | $ | 39,875 | $ | 34,957 | $ | 33,957 | $ | 18,422 | $ | 12,177 | ||||||||||||
Capitalized Interest | 693 | 22 | 123 | 3,198 | 2,181 | $ | 736 | |||||||||||||||||
Amortization of Debt Issue Costs | 1,683 | 2,154 | 1,461 | 954 | 760 | 400 | ||||||||||||||||||
Portion of Rentals | 12,215 | 12,835 | 14,295 | 13,922 | 13,144 | 2,840 | ||||||||||||||||||
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Total Fixed Charges | $ | 65,513 | $ | 54,886 | $ | 50,836 | $ | 52,031 | $ | 34,507 | $ | 16,153 | ||||||||||||
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Ratio of Earnings to Fixed Charges | 7.1 | 7.2 | 2.5 | — | 5.5 | 9.3 | ||||||||||||||||||
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