Exhibit 12.1
Intrepid Potash, Inc.
Computation of Ratio of (Loss) Earnings to Fixed Charges
(In Thousands, Except Ratios)
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| Intrepid Potash, Inc. |
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| Three |
| Year Ended December 31, |
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| 2016 |
| 2015 |
| 2014 |
| 2013 |
| 2012 |
| 2011 |
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Earnings: |
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(Loss) Income from continuing operations before income taxes |
| $ | (18,425 | ) | $ | (374,803 | ) | $ | 10,811 |
| $ | 38,093 |
| $ | 136,927 |
| $ | 175,261 |
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Additions: |
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Fixed charges |
| 2,835 |
| 9,050 |
| 9,471 |
| 9,757 |
| 2,244 |
| 2,435 |
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Amortization of capitalized interest |
| 8 |
| 131 |
| 153 |
| 101 |
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| 2,843 |
| 9,181 |
| 9,624 |
| 9,858 |
| 2,244 |
| 2,435 |
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Subtractions: |
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Capitalized interest |
| (90 | ) | (293 | ) | (456 | ) | (3,375 | ) | — |
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(Loss) Earnings as adjusted |
| $ | (15,672 | ) | $ | (365,915 | ) | $ | 19,979 |
| $ | 44,576 |
| $ | 139,171 |
| $ | 177,696 |
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Fixed charges: |
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Interest expensed on indebtedness |
| $ | 1,424 |
| $ | 5,968 |
| $ | 6,320 |
| $ | 4,539 |
| $ | 510 |
| $ | 412 |
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Capitalized interest |
| 90 |
| 293 |
| 456 |
| 3,375 |
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| — |
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Amortization of debt expense |
| 805 |
| 383 |
| 368 |
| 367 |
| 342 |
| 401 |
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Interest within rent expense |
| 516 |
| 2,406 |
| 2,327 |
| 1,476 |
| 1,392 |
| 1,622 |
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Total fixed charges |
| $ | 2,835 |
| $ | 9,050 |
| $ | 9,471 |
| $ | 9,757 |
| $ | 2,244 |
| $ | 2,435 |
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Ratio of earnings to fixed charges |
| (5.5 | ) | (40.4 | ) | 2.1 |
| 4.6 |
| 62.0 |
| 73.0 |
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The dollar amount required to bring our ratio of earnings to fixed charges to one-to-one is $18,507,000 and $374,965,000 for the three months ended March 31, 2016 and the year ended December 31, 2015, respectively.