Exhibit 12.1
SEITEL, INC.
Statement Showing Computation of Ratio of Earnings to Fixed Charges
(In thousands)
(Unaudited)
Year Ended December 31, | ||||||||||||||||||||
1999 | 2000 | 2001 | 2002 | 2003 | ||||||||||||||||
Fixed charges: | ||||||||||||||||||||
Interest expense | $ | 12,218 | $ | 13,368 | $ | 14,245 | $ | 21,248 | $ | 20,526 | ||||||||||
Capitalized interest expense | 3,101 | 2,936 | 2,583 | 664 | — | |||||||||||||||
Portion of rental expense representative of interest factor | 371 | 383 | 390 | 471 | 300 | |||||||||||||||
Total fixed charges | $ | 15,690 | $ | 16,687 | $ | 17,218 | $ | 22,383 | $ | 20,826 | ||||||||||
Earnings before fixed charges: | ||||||||||||||||||||
Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle | $ | 13,868 | $ | 13,747 | $ | 16,328 | $ | (156,873 | ) | $ | (36,878 | ) | ||||||||
Fixed charges | 15,690 | 16,687 | 17,218 | 22,383 | 20,826 | |||||||||||||||
Capitalized interest expense | (3,101 | ) | (2,936 | ) | (2,583 | ) | (664 | ) | — | |||||||||||
Total earnings before fixed charges | $ | 26,457 | $ | 27,498 | $ | 30,963 | $ | (135,154 | ) | $ | (16,052 | ) | ||||||||
Ratio of earnings to fixed charges: | ||||||||||||||||||||
Earnings before fixed charges | $ | 26,457 | $ | 27,498 | $ | 30,963 | $ | (135,154 | ) | $ | (16,052 | ) | ||||||||
Fixed charges | 15,690 | 16,687 | 17,218 | 22,383 | 20,826 | |||||||||||||||
Ratio of earnings to fixed charges | 1.7 | 1.7 | 1.8 | — | — |
Statement Showing Computation of Ratio of Earnings to Fixed Charge
(In thousands)
(Unaudited)—(Continued)
Nine Months Ended September 30, | Proforma | |||||||||||||||
2003 | 2004 | Year Ended December 31, 2003 | Nine Months Ended September 30, 2004 | |||||||||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 15,474 | $ | 19,093 | $ | 25,398 | $ | 18,988 | ||||||||
Capitalized interest expense | — | — | — | — | ||||||||||||
Portion of rental expense representative of interest factor | 278 | 258 | 300 | 258 | ||||||||||||
Total fixed charges | $ | 15,752 | $ | 19,351 | $ | 25,698 | $ | 19,246 | ||||||||
Earnings before fixed charges: | ||||||||||||||||
Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle | $ | (11,353 | ) | $ | (88,854 | ) | $ | (41,750 | ) | $ | (88,749 | ) | ||||
Fixed charges | 15,752 | 19,351 | 25,698 | 19,246 | ||||||||||||
Capitalized interest expense | — | — | — | — | ||||||||||||
Total earnings before fixed charges | $ | 4,399 | $ | (69,503 | ) | $ | (16,052 | ) | $ | (69,503 | ) | |||||
Ratio of earnings to fixed charges: | ||||||||||||||||
Earnings before fixed charges | $ | 4,399 | $ | (69,503 | ) | $ | (16,052 | ) | $ | (69,503 | ) | |||||
Fixed charges | 15,752 | 19,246 | 25,698 | 19,246 | ||||||||||||
Ratio of earnings to fixed charges | — | — | — | — |