Exhibit 12.1
WESTLAKE CHEMICAL CORPORATION
STATEMENT SETTING FORTH DETAIL FOR COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES
(thousands of dollars)
| For the six months ended June 30, 2013 | For the years ended December 31, | |||||||||||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Income (Loss) before Income Taxes | $ | 421,082 | $ | 585,169 | $ | 401,432 | $ | 342,960 | $ | 78,753 | $ | (58,022 | ) | |||||||||||
Fixed Charges | 22,745 | 52,269 | 53,298 | 42,051 | 36,541 | 38,109 | ||||||||||||||||||
Amortization of Capitalized Interest | — | — | — | — | — | — | ||||||||||||||||||
Equity Investee Distributions | 2,482 | 4,449 | 2,463 | — | — | — | ||||||||||||||||||
Capitalized Interest | (10,392 | ) | (7,706 | ) | (693 | ) | (22 | ) | (123 | ) | (3,198 | ) | ||||||||||||
Equity Investment (Income) Loss | (1,113 | ) | (1,444 | ) | (2,890 | ) | (2,212 | ) | (3,818 | ) | (621 | ) | ||||||||||||
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Total Earnings Available for Fixed Charges | $ | 434,804 | $ | 632,737 | $ | 453,610 | $ | 382,777 | $ | 111,353 | $ | (23,732 | ) | |||||||||||
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Fixed Charges | ||||||||||||||||||||||||
Interest Expense | $ | 11,624 | $ | 43,049 | $ | 50,922 | $ | 39,875 | $ | 34,957 | $ | 33,957 | ||||||||||||
Capitalized Interest | 10,392 | 7,706 | 693 | 22 | 123 | 3,198 | ||||||||||||||||||
Amortization of Debt Issue Costs | 729 | 1,514 | 1,683 | 2,154 | 1,461 | 954 | ||||||||||||||||||
Portion of Rentals | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||
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Total Fixed Charges | $ | 22,745 | $ | 52,269 | $ | 53,298 | $ | 42,051 | $ | 36,541 | $ | 38,109 | ||||||||||||
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Ratio of Earnings to Fixed Charges | 19.1 | 12.1 | 8.5 | 9.1 | 3.0 | — | (1) | |||||||||||||||||
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| (1) | Earnings for 2008 were insufficient to cover fixed charges by $61.8 million. |