Exhibit 12.1
Intrepid Potash, Inc.
Computation of Ratio of Earnings to Fixed Charges
(In Thousands, Except Ratios)
|
| Intrepid Potash, Inc. |
| Intrepid Mining LLC |
| |||||||||||||||||
|
| Three |
| Year Ended December 31, |
| April 25, |
| January 1, |
| Year Ended |
| |||||||||||
|
| 2012 |
| 2011 |
| 2010 |
| 2009 |
| 31, 2008 |
| 2008 |
| 2007 |
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Earnings: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Income from continuing operations before income taxes |
| $ | 33,239 |
| $ | 175,261 |
| $ | 75,043 |
| $ | 92,247 |
| $ | 157,765 |
| $ | 44,493 |
| $ | 29,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Additions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Fixed charges |
| 491 |
| 2,435 |
| 2,782 |
| 2,441 |
| 1,812 |
| 2,847 |
| 10,159 |
| |||||||
Amortization of capitalized interest |
| — |
| — |
| — |
| — |
| 1 |
| — |
| — |
| |||||||
|
| 491 |
| 2,435 |
| 2,782 |
| 2,441 |
| 1,813 |
| 2,847 |
| 10,159 |
| |||||||
Subtractions: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Capitalized interest |
| — |
| — |
| — |
| — |
| — |
| 52 |
| 115 |
| |||||||
Earnings as adjusted |
| $ | 33,730 |
| $ | 177,696 |
| $ | 77,825 |
| $ | 94,688 |
| $ | 159,578 |
| $ | 47,288 |
| $ | 39,728 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Interest on indebtedness, expensed or capitalized |
| $ | 126 |
| $ | 412 |
| $ | 353 |
| $ | 347 |
| $ | 241 |
| $ | 2,197 |
| $ | 8,074 |
|
Amortization of debt expense |
| 86 |
| 401 |
| 222 |
| 221 |
| 151 |
| 89 |
| 264 |
| |||||||
Interest within rent expense |
| 279 |
| 1,622 |
| 2,207 |
| 1,873 |
| 1,419 |
| 561 |
| 1,821 |
| |||||||
Total fixed charges |
| $ | 491 |
| $ | 2,435 |
| $ | 2,782 |
| $ | 2,441 |
| $ | 1,812 |
| $ | 2,847 |
| $ | 10,159 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||
Ratio of earnings to fixed charges |
| 68.7 |
| 73.0 |
| 28.0 |
| 38.8 |
| 88.1 |
| 16.6 |
| 3.9 |
|