Intrepid Potash, Inc.
Computation of Ratio of Earnings to Fixed Charges
(In Thousands, Except Ratios)
| | Intrepid Potash, Inc. | | | | | | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| | Intrepid Mining LLC | ||||||||||||||||||||||
| | Three Months Ended March 31, 2009 | April 25, 2008, Through December 31, 2008 | |||||||||||||||||||||
| | January 1, 2008, Through April 24, 2008 | Year Ended December 31, 2007 | Year Ended December 31, 2006 | Year Ended December 31, 2005 | Year Ended December 31, 2004 | ||||||||||||||||||
Earnings: | |||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 39,877 | $ | 157,765 | $ | 44,493 | $ | 29,684 | $ | 24,098 | $ | 32,614 | $ | 23,121 | |||||||||
Additions: | |||||||||||||||||||||||
Fixed charges | 638 | 1,812 | 2,847 | 10,159 | 4,222 | 2,719 | 2,610 | ||||||||||||||||
Amortization of capitalized interest | — | 1 | — | — | — | — | — | ||||||||||||||||
| 638 | 1,813 | 2,847 | 10,159 | 4,222 | 2,719 | 2,610 | |||||||||||||||||
Subtractions: | |||||||||||||||||||||||
Capitalized interest | — | — | 52 | 115 | — | — | — | ||||||||||||||||
Earnings as adjusted | $ | 40,515 | $ | 159,578 | $ | 47,288 | $ | 39,728 | $ | 28,320 | $ | 35,333 | $ | 25,731 | |||||||||
Fixed charges: | |||||||||||||||||||||||
Interest on indebtedness, expensed or capitalized | $ | 78 | $ | 241 | $ | 2,197 | $ | 8,074 | $ | 3,053 | $ | 2,015 | $ | 2,191 | |||||||||
Amortization of debt expense | 55 | 151 | 89 | 264 | 107 | 111 | 98 | ||||||||||||||||
Interest within rent expense | 505 | 1,419 | 561 | 1,821 | 1,062 | 594 | 320 | ||||||||||||||||
Total fixed charges | $ | 638 | $ | 1,812 | $ | 2,847 | $ | 10,159 | $ | 4,222 | $ | 2,719 | $ | 2,610 | |||||||||
Ratio of earnings to fixed charges | 63.5 | 88.1 | 16.6 | 3.9 | 6.7 | 13.0 | 9.9 | ||||||||||||||||
