Ion Geophysical (IOGPQ) S-3/A Shelf registration (amended)

QuickLinks -- Click here to rapidly navigate through this document

Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges and
Preferred Dividends and Ratio of Earnings to Fixed Charges

				Year Ended
in thousands	Nine months Ended September 30, 2016			December 31, 2015			December 31, 2014			December 31, 2013			December 31, 2012			December 31, 2011
Fixed charges:
Interest expense		14,146			18,973			20,075			13,111			6,013			6,698
Capitalized interest		—			—			—			—			—			—
Portion of rental expense which represents interest factor		3,366			4,605			5,038			4,836			4,800			5,567
Total Fixed charges before preferred stock dividends pre-tax requirements		17,512			23,578			25,113			17,947			10,813			12,264
Preferred stock dividends pre-tax income requirements		—			—			—			6,013			1,865			1,910
Total Combined fixed charges and preferred stock dividends		17,512			23,578			25,113			23,960			12,677			14,174
Earnings available for fixed charges:
Pre-tax income (loss)		(52,520	)		(21,110	)		(106,937	)		(220,797	)		86,683			34,702
Distributed equity income of affiliated companies		—			—			49,485			42,320			(297	)		22,862
Add: Fixed charges		17,512			23,578			25,113			17,947			10,813			12,264
Less: Capitalized interest		—			—			—			—			—			—
Total Earnings available for fixed charges		(35,008	)		2,468			(32,338	)		(160,529	)		97,199			69,828
Ratio of earnings to fixed charges and preferred dividends		—			—			—			—			7.67			4.93
Ratio of earnings to fixed charges		—			—			—			—			8.99			5.69
Deficiency of earnings available to cover combined fixed charges and preferred stock dividends		(52,520	)		(21,110	)		(57,451	)		(184,489	)		—			—
Deficiency of earnings available to cover fixed charges		(52,520	)		(21,110	)		(57,451	)		(178,477	)		—			—

QuickLinks

Exhibit 12.1

Statement of Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends and Ratio of Earnings to Fixed Charges