EXHIBIT 12.1
NEWPARK RESOURCES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
NINE MONTHS ENDED
YEAR ENDED DECEMBER 31, SEPTEMBER 30,
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1992 1993 1994 1995 1996 1996 1997
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Earnings:
Income from continuing
operations before provision
for income taxes $4,132 $ 975 $ 9,465 $17,499 $28,341 $17,516 $40,236
Capitalized interest -- (85) (145) (458) (515) (291) (909)
Amortized of capitalized
interest -- 4 12 34 60 75 120
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Total 4,132 894 9,332 17,075 27,886 17,300 39,447
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Fixed charges:
Interest 847 1,391 2,869 4,291 4,415 3,145 3,612
Interest factor portion
of rentals 554 634 614 788 815 719 840
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Total 1,401 2,025 3,483 5,079 5,230 3,864 4,452
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Earnings before income
taxes and fixed charges $5,533 $2,919 $12,815 $22,154 $33,116 $21,164 $43,899
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Ratio of earnings to fixed
charges 4.0x 1.4x 3.7x 4.4x 6.3x 5.5x 9.9x
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