Exhibit 12.1
3D SYSTEMS CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
Three months ended March 31, | Twelve months ended December 31, | |||||||||||||||||||||||||||
2012 | 2011 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
Fixed charges | ||||||||||||||||||||||||||||
Interest on debt and capitalized leases | 2,226,322 | 143,049 | 1,680,415 | 587,252 | 617,992 | 917,682 | 1,829,727 | |||||||||||||||||||||
Amortization of debt discount and expense | 959,918 | — | 409,219 | — | — | — | — | |||||||||||||||||||||
Interest element of rentals | 394,605 | 206,793 | 911,754 | 658,341 | 568,431 | 632,700 | 899,766 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total fixed charges | 3,580,845 | 349,842 | 3,001,388 | 1,245,593 | 1,186,423 | 1,550,382 | 2,729,493 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Earnings | ||||||||||||||||||||||||||||
Net income (loss) | 6,188,000 | 6,822,000 | 35,420,000 | 19,566,000 | 1,139,000 | (6,154,000 | ) | (6,740,000 | ) | |||||||||||||||||||
Addback: | ||||||||||||||||||||||||||||
Extraordinary charge | — | — | — | — | — | — | — | |||||||||||||||||||||
Loss from discontinued operation | — | — | — | — | — | — | — | |||||||||||||||||||||
Consolidated provision for income taxes | 1,100,000 | 885,000 | (2,974,000 | ) | 173,000 | 774,000 | 294,000 | 491,000 | ||||||||||||||||||||
Fixed charges | 3,580,845 | 349,842 | 3,001,388 | 1,245,593 | 1,186,423 | 1,550,382 | 2,729,493 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Subtotal earnings | 10,868,845 | 8,056,842 | 35,447,388 | 20,984,593 | 3,099,423 | (4,309,618 | ) | (3,519,507 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Less : Undistributed earning of less-than-50% owned affiliates | — | — | — | — | 73,000 | — | — | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Total earnings | 10,868,845 | 8,056,842 | 35,447,388 | 20,984,593 | 3,026,423 | (4,309,618 | ) | (3,519,507 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||||||||||||
Ratio of earnings to fixed charges | 3.0 | 23.0 | 11.8 | 16.8 | 2.6 | (2.8 | ) | (1.3 | ) | |||||||||||||||||||
Interest on Rentals Worksheet | 03/31/12 | 03/31/11 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||||||||||||||||
Rental expense | 1,185,000 | 621,000 | 2,738,000 | 1,977,000 | 1,707,000 | 1,900,000 | 2,702,000 | |||||||||||||||||||||
Company interest factor | 33.3 | % | 33.3 | % | 33.3 | % | 33.3 | % | 33.3 | % | 33.3 | % | 33.3 | % | ||||||||||||||
Interest component of rent expense | 394,605 | 206,793 | 911,754 | 658,341 | 568,431 | 632,700 | 899,766 |