EX-12.1 7 d544602dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

EXTERRAN CORPORATION

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

(In thousands, except ratio amounts)

 

     Years Ended December 31,  
     2013     2014     2015     2016     2017  

Income (loss) from continuing operations before income taxes

   $ 197,268     $ 178,761     $ 61,363     $ (47,524   $ 16,839  

Less: Equity in income of non-consolidated affiliates

     (19,000     (14,553     (15,152     (10,403     —    

Add: Fixed charges (from below)

     4,718       3,133       8,362       35,270       39,026  

Add: Amortization of capitalized interest

     —         —         6       21       49  

Add: Return of investments in non-consolidated affiliates

     19,000       14,750       15,185       10,403       —    

Less: Capitalized interest

     —         —         (26     (289     (3,446
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings for computation of ratio

   $ 201,986     $ 182,091     $ 69,738     $ (12,522   $ 52,468  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges:

          

Interest expense (1)

   $ 3,523     $ 1,878     $ 7,272     $ 34,181     $ 34,826  

Capitalized interest

     —         —         26       289       3,446  

Interest portion of rental expense

     1,195       1,255       1,064       800       754  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed charges

   $ 4,718     $ 3,133     $ 8,362     $ 35,270     $ 39,026  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges (earnings divided by fixed charges) (2)

     42.8       58.1       8.3       —         1.3  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Includes amortization of deferred financing costs.
(2) The ratio of earnings to fixed charges was less than one-to-one for the year ended December 31, 2016. Additional earnings of $47.8 million would have been needed to have a one-to-one ratio of earnings to fixed charges.