EX-12 6 exhibit12pt1.htm EXHIBIT 12.1 Exhibit 12.1

Exhibit 12.1

STATEMENT REGARDING COMPUTATION OF RATIO

OF EARNINGS TO FIXED CHARGES AND

EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

 

Three Months Ended March 31,

Year Ended December 31,

  
 

2004

2003

2002

2001

2000

 

1999

  
                         

Calculation of Earnings:

 

Income before discontinued operations and cumulative effect of change in accounting principle per consolidated statements of operations

$2,962

$19,400

$9,415

$23,573

$8,426

$14,575

  

Add:

 

Interest expense, including amortization of debt expenses and premium

–

524

2,885

2,491

4,187

5,204

  

Portion of rents representative of the interest factor

176

649

694

767

650

541

  

Amortization of capitalized interest

94

397

447

421

359

342

  

Distributed income of equity investees

–

–

–

–

–

–

  

TETRA share of pre-tax losses of equity investees for which charges arising from guarantees are included in Fixed Charges

–

–

–

–

–

–

  

 

 

 

 

 

 

 

  

Earnings

3,232

 

20,970

 

13,441

 

27,252

 

13,622

 

20,662

  

 

 

 

Calculation of Fixed Charges:

 

Interest expense, including amortization of debt expenses and premium

–

524

2,885

2,491

4,187

5,204

  

Capitalized interest

–

54

235

500

287

73

  

Portion of rents representative of the interest factor

176

649

694

767

650

541

  

Preference securities dividend requirements of consolidated subsidiaries

–

–

–

–

–

–

  

 

 

 

 

 

 

 

  

Fixed Charges

176

 

1,227

 

3,814

 

3,758

 

5,124

 

5,818

  

 

 

Ratio of earnings to fixed charges

18.36

 

17.09

 

3.52

 

7.25

 

2.66

 

3.55

  

Preferred dividends

–

 

–

 

–

 

–

 

–

 

–

  

Ratio of earnings to fixed charges and preferred dividends

18.36

 

17.09

 

3.52

 

7.25

 

2.66

 

3.55