EX-12 3 exh12.txt FIXED CHARGE COVERAGE RATIO CALCULATION 1 Exhibit 12 HECLA MINING COMPANY FIXED CHARGE COVERAGE RATIO CALCULATION For the Three Months Ended March 31, 2002 and 2001 (In thousands, except ratios) Three Months Three Months 2002 2001 ------------ ------------ Income (loss) from continuing operations before income taxes $ 970 $ (3,610) Add: Fixed Charges 2,512 4,018 --------- --------- Adjusted income before income taxes $ 3,482 $ 408 ========= ========= Fixed charges: Preferred stock dividends $ 2,012 $ 2,012 Income tax effect on preferred stock dividends - - - - Interest portion of rentals 36 - - Total interest costs 464 2,006 --------- --------- Total fixed charges $ 2,512 $ 4,018 ========= ========= Fixed Charge Ratio 1.39 (a) Inadequate coverage $ - - $ 3,610 ========= ========= Write-downs and other noncash charges: DD&A(b) (mining activity) $ 5,558 $ 4,393 DD&A(b) (corporate) 53 68 Provision for closed operations and environmental matters 109 574 --------- --------- $ 5,720 $ 5,035 ========= ========= (a) Earnings for period are inadequate to cover fixed charges. (b) "DD&A" is an abbreviation for "depreciation, depletion and amortization."