Exhibit 12.1
COEUR MINING, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
Nine Months Ended September 30, | Year Ended December 31, | |||||||||||||||||||||||
2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||
Interest expense | $ | 28,714,932 | $ | 26,059,703 | $ | 32,724,170 | $ | 27,107,154 | $ | 17,112,764 | $ | 2,882,424 | ||||||||||||
Capitalized interest | 1,494,400 | 2,663,251 | 2,175,427 | 9,884,993 | 22,824,599 | 18,724,062 | ||||||||||||||||||
Amotization of public offering costs | 1,603,487 | 1,145,548 | 2,049,964 | 3,834,568 | 989,235 | 1,843,625 | ||||||||||||||||||
Portion of rent expense representative of interest | 3,103,344 | 3,986,477 | 4,028,435 | 3,342,969 | 3,774,082 | 4,380,338 | ||||||||||||||||||
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Total fixed charges | $ | 34,916,162 | $ | 33,854,979 | $ | 40,977,996 | $ | 44,169,684 | $ | 44,700,680 | $ | 27,830,449 | ||||||||||||
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Earnings available for fixed charges: | ||||||||||||||||||||||||
Net income (loss) from continuing operations before income taxes | $ | (37,362,024 | ) | $ | 117,289,000 | $ | 207,836,000 | $ | (92,665,000 | ) | $ | (76,073,000 | ) | $ | (25,550,000 | ) | ||||||||
Fixed charges per above | 34,916,162 | 33,854,979 | 40,977,996 | 44,169,684 | 44,700,680 | 27,830,449 | ||||||||||||||||||
Less interest capitalized | (1,494,400 | ) | (2,663,251 | ) | (2,175,427 | ) | (9,884,993 | ) | (22,824,599 | ) | (18,724,062 | ) | ||||||||||||
Current period amortization of capitalized interest | 4,831,784 | 5,725,301 | 6,428,521 | 3,294,362 | 1,436,018 | 87,810 | ||||||||||||||||||
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Total earnings available for fixed charges | 891,523 | 154,206,029 | 253,067,090 | (55,085,947 | ) | (52,760,901 | ) | (16,355,803 | ) | |||||||||||||||
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Earnings sufficient (insufficient) to cover fixed charges | $ | (34,024,640 | ) | $ | 120,351,050 | $ | 212,089,094 | $ | (99,255,631 | ) | $ | (97,461,581 | ) | $ | (44,186,252 | ) | ||||||||
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Ratio of earnings to fixed charges | N/A | 4.56x | 6.18x | N/A | N/A | N/A | ||||||||||||||||||
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