EX-12.1 5 d159191dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

TETRA Technologies, Inc.

Ratio of Earnings to Fixed Charges

 

     Fiscal Year Ended December 31,  
     2011     2012     2013     2014     2015  

Earnings

           

Pretax income (loss) from continuing operations

    $ 6,233      $ 28,183      $ (128 )    $ (157,871 )    $ (201,763 ) 

Plus: Fixed Charges

      19,431        20,399        20,282        37,564        56,698   

Plus: Amortization of capitalized interest

      1,164        1,117        1,331        1,446        1,511   

Less: Interest capitalized

      (1,151 )      (1,875 )      (1,614 )      (845 )      (387 ) 

Less: Preference dividend requirements

      —          —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
   $ 25,677      $ 47,824      $ 19,871      $ (119,706 )      (143,941 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges

           

Interest expense on indebtedness

    $ 17,252      $ 17,373      $ 17,393      $ 32,745        51,202   

Interest capitalized

      1,151        1,875        1,614        845        387   

Amortization of deferred financing costs

      809        837        861        2,968        3,961   

Interest expense on portion of rent

      219        314        414        1,006        1,148   

Preference dividend requirements

      —          —          —          —          —     
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 19,431      $ 20,399      $ 20,282      $ 37,564      $ 56,698   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings to fixed charges

      1.32 x      2.34 x      (a )      (a )      (a ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(a) Earnings were inadequate to cover fixed charges. The coverage deficiency totaled $0.4 million, $157.3 million, and $200.6 million for the years ended December 31, 2013, 2014 and 2015, respectively.