EXHIBIT 12.1
Hecla Mining Company
Fixed Charge and Preferred Dividend Coverage Ratio Calculation
For the Years Ended December 31, 2015, 2014, 2013, 2012 and 2011
| Year Ended December 31, | ||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
Net income (loss) before income taxes | $ | (30,658 | ) | $ | 12,584 | $ | (34,925 | ) | $ | 23,833 | $ | 233,142 | ||||||||
Fixed charges: | ||||||||||||||||||||
Interest portion of rentals | 1,751 | 1,189 | 1,592 | 1,044 | 1,014 | |||||||||||||||
Total interest costs | 38,910 | 38,528 | 28,174 | 2,427 | 2,875 | |||||||||||||||
Total fixed charges | 40,661 | 39,717 | 29,766 | 3,471 | 3,889 | |||||||||||||||
Total earnings (loss) | $ | 10,003 | $ | 52,301 | $ | (5,159 | ) | $ | 27,304 | $ | 237,031 | |||||||||
Preferred stock dividend requirements | $ | 552 | $ | 552 | $ | 552 | $ | 552 | $ | 522 | ||||||||||
Ratio of pre-tax income (loss) to net income (loss) | $ | 2.84 | $ | 0.71 | $ | 0.72 | $ | 1.59 | $ | 1.54 | ||||||||||
Preferred stock dividend factor | $ | 552 | $ | 552 | $ | 552 | $ | 878 | $ | 850 | ||||||||||
Ratio of earnings to fixed charges | (na | ) | 1.3 | (na | ) | 7.9 | 60.9 | |||||||||||||
Ratio of earnings to fixed charges and preferred dividends | (na | ) | 1.3 | (na | ) | 6.3 | 50 | |||||||||||||
Coverage deficit: | ||||||||||||||||||||
On fixed charges | $ | 30,658 | $ | — | $ | 34,925 | $ | — | $ | — | ||||||||||
On fixed charges and preferred dividends | 32,224 | — | 35,477 | — | — | |||||||||||||||
