EXHIBIT 12.1
SEITEL, INC.
STATEMENT OF COMPUTATION OF EARNINGS TO FIXED CHARGES
(in thousands)
(Unaudited)
Year Ended December 31, | Three Months Ended March 31, | |||||||||||||||||||||||||||
2008 | 2009 | 2010 | 2011 | 2012 | 2012 | 2013 | ||||||||||||||||||||||
Fixed charges: | ||||||||||||||||||||||||||||
Interest expense | $ | 41,215 | $ | 41,194 | $ | 41,094 | $ | 35,246 | $ | 29,143 | $ | 7,264 | $ | 9,426 | ||||||||||||||
Capitalized interest expense | — | — | — | — | — | — | — | |||||||||||||||||||||
Portion of rental expense representative of interest factor | 564 | 539 | 564 | 578 | 612 | 144 | 190 | |||||||||||||||||||||
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Total fixed charges | $ | 41,779 | $ | 41,733 | $ | 41,658 | $ | 35,824 | $ | 29,755 | $ | 7,408 | $ | 9,616 | ||||||||||||||
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Earnings before fixed charges: | ||||||||||||||||||||||||||||
Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle | $ | (77,622 | ) | $ | (99,771 | ) | $ | (67,425 | ) | $ | 2,608 | $ | 43,832 | $ | 18,247 | $ | 3,122 | |||||||||||
Fixed charges | 41,779 | 41,733 | 41,658 | 35,824 | 29,755 | 7,408 | 9,616 | |||||||||||||||||||||
Capitalized interest expense | — | — | — | — | — | — | — | |||||||||||||||||||||
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Total earnings before fixed charges | $ | (35,843 | ) | $ | (58,038 | ) | $ | (25,767 | ) | $ | 38,432 | $ | 73,587 | $ | 25,655 | $ | 12,738 | |||||||||||
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Ratio of earnings to fixed charges: | ||||||||||||||||||||||||||||
Earnings before fixed charges | $ | (35,843 | ) | $ | (58,038 | ) | $ | (25,767 | ) | $ | 38,432 | $ | 73,587 | $ | 25,655 | $ | 12,738 | |||||||||||
Fixed charges | 41,779 | 41,733 | 41,658 | 35,824 | 29,755 | 7,408 | 9,616 | |||||||||||||||||||||
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Ratio of earnings to fixed charges | — | — | — | 1.1 | 2.5 | 3.5 | 1.3 | |||||||||||||||||||||
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Amount of deficiency (if negative) | (77,622 | ) | (99,771 | ) | (67,425 | ) | — | — | — | — |
Pro forma Calculation | ||||||||
Year Ended December 31, 2012 | Three Months Ended March 31, 2013 | |||||||
Fixed charges: | ||||||||
Interest expense | $ | 26,081 | $ | 6,520 | ||||
Capitalized interest expense | — | — | ||||||
Portion of rental expense representative of interest factor | 612 | 190 | ||||||
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Total fixed charges | $ | 26,693 | $ | 6,710 | ||||
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Earnings before fixed charges: | ||||||||
Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle | $ | 43,832 | $ | 3,122 | ||||
Fixed charges | 26,693 | 6,710 | ||||||
Capitalized interest expense | — | — | ||||||
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Total earnings before fixed charges | $ | 70,525 | $ | 9,832 | ||||
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Ratio of earnings to fixed charges: | ||||||||
Earnings before fixed charges | $ | 70,525 | $ | 9,832 | ||||
Fixed charges | 26,693 | 6,710 | ||||||
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Ratio of earnings to fixed charges | 2.6 | 1.5 | ||||||
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Amount of deficiency (if negative) | — | — |