Exhibit 12.1
StealthGas Inc.
Computation of Ratio of Earnings to Fixed Charges
The following table sets forth our unaudited ratio of earnings to fixed charges for each of the periods noted below.(1)
(Expressed in United States Dollars, except ratios)
Three Months Ended March 31, 2013 |
Years Ended December 31, | |||||||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||
Earnings | ||||||||||||||||||||||||
Net income/(loss) | 6,458,657 | 28,958,487 | 8,549,791 | 11,093,191 | (13,311,885 | ) | 29,987,484 | |||||||||||||||||
Add: Fixed charges | 2,112,143 | 9,487,508 | 8,294,878 | 7,960,745 | 8,244,639 | 10,082,119 | ||||||||||||||||||
Total Earnings | 8,570,800 | 38,445,995 | 16,844,669 | 19,053,936 | (5,067,246 | ) | 40,069,603 | |||||||||||||||||
Less: | ||||||||||||||||||||||||
Interest capitalized | (107,065 | ) | (281,485 | ) | (557,565 | ) | (556,314 | ) | (600,320 | ) | (389,595 | ) | ||||||||||||
8,463,735 | 38,164,510 | 16,287,104 | 18,497,622 | (5,667,566 | ) | 39,680,008 | ||||||||||||||||||
Fixed Charges | ||||||||||||||||||||||||
Interest expensed & capitalized | 1,997,023 | 9,035,248 | 7,864,282 | 7,418,572 | 8,010,850 | 9,944,394 | ||||||||||||||||||
Amortization and write off capitalized expenses relating to indebtedness | 108,840 | 412,138 | 395,446 | 508,686 | 202,770 | 104,986 | ||||||||||||||||||
Interest portion of rental expenses | 6,280 | 40,122 | 35,150 | 33,487 | 31,019 | 32,739 | ||||||||||||||||||
2,112,143 | 9,487,508 | 8,294,878 | 7,960,745 | 8,244,639 | 10,082,119 | |||||||||||||||||||
Ratio Of Earnings To Fixed Charges | 4.01 | 4.02 | 1.96 | 2.32 | — | 3.94 | ||||||||||||||||||
Dollar Amount of Deficiency in Earnings to Fixed Charges | n/a | n/a | n/a | n/a | 13,912,205 | n/a |
(1) | We have not issued any preferred stock as of the date of this prospectus. |