Ion Geophysical (IOGPQ) S-3 Shelf registration

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Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges

				Year Ended
in thousands	Six months Ended June 30, 2016			December 31, 2015			December 31, 2014			December 31, 2013			December 31, 2012		December 31, 2011
Fixed charges:
Interest expense		9,511			18,971			20,075			13,111			6,013		6,698
Capitalized interest		—			—			—			—			—		—
Portion of rental expense which represents interest factor		—			—			—			—			—		—
Total Fixed charges		9,511			18,971			20,075			13,111			6,013		6,698
Total Fixed charges before preferred stock dividends pre-tax requirements Preferred stock dividends pre-tax income requirements		—			—			—			6,013			1,350		1,350
Total Combined fixed charges and preferred stock dividends		9,511			18,971			20,075			19,124			7,363		8,048
Earnings available for fixed charges:
Pre-tax income (loss)		(57,750	)		(21,110	)		(106,937	)		(220,797	)		86,653		34,702
Distributed equity income of affiliated companies		—			—			—			—			—		—
Add: Fixed charges		9,511			18,971			20,075			19,124			7,363		8,048
Less: Capitalized interest		—			—			—			—			—		—
Total Earnings available for fixed charges		(48,239	)		(2,139	)		(86,862	)		(195,661	)		95,366		44,100
Ratio of earnings to fixed charges		—			—			—			—			12.95		5.48
Deficiency of earnings available to cover combined fixed charges and preferred stock dividends		(57,750	)		(21,110	)		(106,937	)		(214,785	)

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Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges