EX-12.1 3 h82120exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Newpark Resources, Inc.

Ratio of Earnings to Fixed Charges
                                                 
    Fiscal Year Ended December 31,        
                                            Three Months  
Earnings   2006     2007     2008     2009     2010     Ended March 31, 2011  
Pretax income from continuing operations
  $ (16,445 )   $ 47,235     $ 59,346     $ (22,789 )   $ 68,871     $ 25,368  
Plus: Fixed charges
    28,408       31,721       25,522       19,414     $ 18,911       6,319  
Less: Preference dividend requirements
                                       
 
                                   
Total Earnings:
  $ 11,963     $ 78,956     $ 84,868     $ (3,375 )   $ 87,782     $ 31,687  
 
                                   
 
Fixed Charges
                                               
Interest expense on indebtedness
  $ 19,975     $ 23,288     $ 14,655     $ 9,614     $ 10,445     $ 2,293  
Interest expense on portion of rent
    8,433       8,433       10,867       9,800       8,467       4,026  
Preference dividend
                                       
 
                                   
Total fixed charges
  $ 28,408     $ 31,721     $ 25,522     $ 19,414     $ 18,911     $ 6,319  
 
                                   
Preferred Security Dividend Requirements
                                               
Ratio of earnings to fixed charges
    (a)     2.49 x     3.33 x     (a)     4.64 x     5.01 x
 
                                   
Ratio of earnings to combined fixed charges and preferred stock dividend requirements
    (b)     2.49 x     3.33 x     (b)     4.64 x     5.01 x
 
                                   
 
(a)   Earnings were inadequate to cover fixed charges. The coverage deficiency totaled $16.4 million and $22.8 million for the years ended December 31, 2006 and December 31, 2009, respectively.
 
(b)   Earnings were inadequate to cover combined fixed charges and preferred security dividends. The coverage deficiency totaled $16.4 million and $22.8 million for the years ended December 31, 2006 and December 31, 2009, respectively.