EX-12.1 4 a16-5665_1ex12d1.htm EX-12.1

Exhibit 12.1

Intrepid Potash, Inc.

Computation of Ratio of (Loss) Earnings to Fixed Charges

(In Thousands, Except Ratios)

 

 

 

Intrepid Potash, Inc.

 

 

 

Year Ended December 31,

 

 

 

2015

 

2014

 

2013

 

2012

 

2011

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

(Loss) Income from continuing operations before income taxes

 

$

(374,803

)

$

10,811

 

$

38,093

 

$

136,927

 

$

175,261

 

 

 

 

 

 

 

 

 

 

 

 

 

Additions:

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

9,050

 

9,471

 

9,757

 

2,244

 

2,435

 

Amortization of capitalized interest

 

131

 

153

 

101

 

—

 

—

 

 

 

9,181

 

9,624

 

9,858

 

2,244

 

2,435

 

 

 

 

 

 

 

 

 

 

 

 

 

Subtractions:

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

(293

)

(456

)

(3,375

)

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) Earnings as adjusted

 

$

(365,915

)

$

19,979

 

$

44,576

 

$

139,171

 

$

177,696

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

Interest expensed on indebtedness

 

$

5,968

 

$

6,320

 

$

4,539

 

$

510

 

$

412

 

Capitalized interest

 

293

 

456

 

3,375

 

—

 

—

 

Amortization of debt expense

 

383

 

368

 

367

 

342

 

401

 

Interest within rent expense

 

2,406

 

2,327

 

1,476

 

1,392

 

1,622

 

Total fixed charges

 

$

9,050

 

$

9,471

 

$

9,757

 

$

2,244

 

$

2,435

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

(40.4

)

2.1

 

4.6

 

62.0

 

73.0

 

 

The dollar amount required to bring our ratio of earnings to fixed charges for the year ended Decmeber 31, 2015 to one-to-one is $374,965,000.