EX-12.1 4 exhibit121-10kfye20.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1

MITCHAM INDUSTRIES, INC.
Ratio of Earnings to Fixed Charges


 
Year Ended January 31,
 
2020
 
2019
 
2018
 
2017
 
2016
Earnings
 
 
 
 
 
 
 
 
 
(Loss) Income before income taxes
(10,409
)
 
(19,588
)
 
(20,159
)
 
$
(31,339
)
 
$
(27,759
)
Fixed charges (as outlined below)
140

 
278

 
245

 
846

 
932

Total earnings, as defined $
(10,269
)

(19,310
)

(19,914
)

(30,493
)

(26,827
)
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
Interest
(46
)
 
72

 
47

 
$
653

 
$
739

Estimate of interest within rental expense
$
186

 
$
206

 
$
198

 
$
193

 
$
193

Total fixed charges
$
140


$
278


$
245


$
846


$
932

 
 
 
 
 
 
 
 
 
 
Ratio of (losses) earnings to fixed charges
*

 
*

 
*

 
*

 
*



*
Earnings for the years ended January 31, 2020, January 31, 2019, January 31, 2018, January 31, 2017 and January 31, 2016 were insufficient to cover fixed charges by $10,409, $19,588, $20,159, $31,339 and $27,759, respectively.