EXHIBIT 12.1
Hecla Mining Company
Fixed Charge and Preferred Dividend Coverage Ratio Calculation
For the Nine Months Ended September 30, 2013 and the
Years Ended December 31, 2012, 2011, 2010, 2009 and 2008
| Nine Months Ended September 30, 2013 | Year Ended December 31, | |||||||||||||||||||||||
| 2012 | 2011 | 2010 | 2009 | 2008 | ||||||||||||||||||||
Net income (loss) from continuing operations before income taxes | $ | (24,144 | ) | $ | 23,833 | $ | 233,142 | $ | (74,549 | ) | $ | 60,146 | ($ | 33,366 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest portion of rentals | 1,189 | 1,044 | 1,014 | 695 | 814 | 663 | ||||||||||||||||||
Total interest costs | 18,452 | 2,427 | 2,875 | 2,211 | 13,244 | 19,573 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total fixed charges | 19,641 | 3,471 | 3,889 | 2,906 | 14,058 | 20,236 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Total earnings | $ | (4,503 | ) | $ | 27,304 | $ | 237,031 | ($ | 71,643 | ) | $ | 74,204 | ($ | 13,130 | ) | |||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Preferred stock dividend requirements | $ | 414 | $ | 552 | $ | 552 | $ | 13,633 | $ | 13,633 | $ | 13,633 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of pre-tax income from continuing operations to net income from continuing operations | 0.92 | 1.59 | 1.54 | (1.52 | ) | 0.89 | 1.11 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Preferred stock dividend factor | $ | 414 | $ | 880 | $ | 851 | $ | 13,633 | $ | 13,633 | $ | 15,189 | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||
Ratio of earnings to fixed charges | (na | ) | 7.9 | 60.9 | (na | ) | 5.3 | (na | ) | |||||||||||||||
Ratio of earnings to fixed charges and preferred dividends | (na | ) | 6.3 | 50.0 | (na | ) | 2.7 | (na | ) | |||||||||||||||
Coverage deficit: | ||||||||||||||||||||||||
On fixed charges | $ | 24,144 | $ | 0 | $ | 0 | $ | 74,549 | $ | 0 | $ | 33,366 | ||||||||||||
On fixed charges and preferred dividends | 24,558 | 0 | 0 | 88,182 | 0 | 48,555 | ||||||||||||||||||
