EX-12.1 6 a2220374zex-12_1.htm EX-12.1
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Exhibit 12.1

Emerge Energy Services LP
Ratio of Earnings to Fixed Charges
($ in thousands)

 
   
  Year Ended December 31,  
 
  Three Months
Ended
March 31, 2014
 
 
  2013   2012   2011   2010  

Earnings(1):

                               

Income before income taxes

  $ 18,575   $ 35,556   $ 17,276   $ (584 ) $ (16,746 )

Add:

                               

Fixed charges before capitalized interest

    2,332     12,836     11,363     3,502     4,974  

Amortization of capitalized interest

    81     323     247     252     248  

Total adjusted earnings

  $ 20,988   $ 48,715   $ 28,886   $ 3,170   $ (11,524 )

Fixed charges(1):

                               

Interest expensed

  $ 1,584   $ 10,833   $ 11,055   $ 3,371   $ 4,871  

Interest capitalized

            1,034     224      

Estimate of interest in rental expense

    748     2,003     308     131     103  

Total fixed charges

  $ 2,332   $ 12,836   $ 12,397   $ 3,726   $ 4,974  

Ratio of Earnings to Fixed Charges

    9.0     3.8     2.3         (2)

(1)
For purposes of this presentation, earnings represent income before income taxes adjusted for fixed charges and capitalized interest. Fixed charges consist of interest expensed and capitalized and an estimate of interest in rental expense.

(2)
The ratio of earnings to fixed charges was less than 1:1 for the years ended December 31, 2011 and 2010. In order to achieve a ratio of earnings to fixed charges of 1:1, we would have had to generate an additional $0.9 million and $17.0 million of earnings for the years ended December 31, 2011 and 2010, respectively.



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Emerge Energy Services LP Ratio of Earnings to Fixed Charges ($ in thousands)