EX-12.1 7 ex121_ratioxofxearnings.htm EXHIBIT 12.1 Exhibit


EXHIBIT 12.1

FLOTEK INDUSTRIES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(unaudited, in thousands, except for ratio)

 
Six months ended June 30,
 
Year ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
 
2012
COMPUTATION OF EARNINGS:
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing
   operations before income taxes
$
(2,628
)
 
$
3,144

 
$
10,634

 
$
56,870

 
$
35,896

 
$
19,993

Add:
 
 
 
 
 
 
 
 
 
 
 
Fixed charges, as defined
1,571

 
2,831

 
2,117

 
1,823

 
2,132

 
8,382

Subtract:
 
 
 
 
 
 
 
 
 
 
 
Capitalized interest
—

 
—

 
—

 
—

 
—

 
(91
)
Earnings (loss), as defined
$
(1,057
)
 
$
5,975

 
$
12,751

 
$
58,693

 
$
38,028

 
$
28,284

 
 
 
 
 
 
 
 
 
 
 
 
COMPUTATION OF FIXED CHARGES:
 
 
 
 
 
 
 
 
Interest expense, including
   capitalized interest
$
1,145

 
$
1,979

 
$
1,521

 
$
1,373

 
$
1,766

 
$
8,059

Estimate of interest within rental
   expense (1)
426

 
852

 
596

 
450

 
366

 
323

Fixed charges, as defined
$
1,571

 
$
2,831

 
$
2,117

 
$
1,823

 
$
2,132

 
$
8,382

 
 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
N/A

 
2.11

 
6.02

 
32.20

 
17.84

 
3.37

Deficiency of earnings to cover
   fixed charges
$
(2,628
)
 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

(1)
One-third of rental expense is deemed to be representative of interest.