EX-12.1 8 dex121.htm STATEMENT SHOWING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Statement showing computation of ratios of earnings to fixed charges

Exhibit 12.1

 

SEITEL, INC.

 

Statement Showing Computation of Ratio of Earnings to Fixed Charges

(In thousands)

(Unaudited)

 

     Year Ended December 31,
  
     1999
     2000
     2001
     2002
     2003
  

Fixed charges:

                                         

Interest expense

    $ 12,218     $ 13,368     $ 14,245     $ 21,248     $ 20,526  

Capitalized interest expense

      3,101       2,936       2,583       664       —    

Portion of rental expense representative of interest factor

      371       383       390       471       300  
    
 
 
 
 

Total fixed charges

    $ 15,690     $ 16,687     $ 17,218     $ 22,383     $ 20,826  
    
 
 
 
 

Earnings before fixed charges:

                                         

Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle

    $ 13,868     $ 13,747     $ 16,328     $ (156,873 )   $ (36,878 )

Fixed charges

      15,690       16,687       17,218       22,383       20,826  

Capitalized interest expense

      (3,101 )     (2,936 )     (2,583 )     (664 )     —    
    
 
 
 
 

Total earnings before fixed charges

    $ 26,457     $ 27,498     $ 30,963     $ (135,154 )   $ (16,052 )
    
 
 
 
 

Ratio of earnings to fixed charges:

                                         

Earnings before fixed charges

    $ 26,457     $ 27,498     $ 30,963     $ (135,154 )   $ (16,052 )

Fixed charges

      15,690       16,687       17,218       22,383       20,826  
    
 
 
 
 

Ratio of earnings to fixed charges

      1.7       1.7       1.8       —         —    

Statement Showing Computation of Ratio of Earnings to Fixed Charge

(In thousands)

(Unaudited)—(Continued)

 

     Nine Months Ended
September 30,
     Proforma
  
     2003
     2004
     Year Ended
December 31, 2003
    

Nine Months Ended

September 30, 2004

  

Fixed charges:

                                 

Interest expense

    $ 15,474     $ 19,093     $ 25,398     $ 18,988  

Capitalized interest expense

      —         —         —         —    

Portion of rental expense representative of interest factor

      278       258       300       258  
    
 
 
 

Total fixed charges

    $ 15,752     $ 19,351     $ 25,698     $ 19,246  
    
 
 
 

Earnings before fixed charges:

                                 

Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle

    $ (11,353 )   $ (88,854 )   $ (41,750 )   $ (88,749 )

Fixed charges

      15,752       19,351       25,698       19,246  

Capitalized interest expense

      —         —         —         —    
    
 
 
 

Total earnings before fixed charges

    $ 4,399     $ (69,503 )   $ (16,052 )   $ (69,503 )
    
 
 
 

Ratio of earnings to fixed charges:

                                 

Earnings before fixed charges

    $ 4,399     $ (69,503 )   $ (16,052 )   $ (69,503 )

Fixed charges

      15,752       19,246       25,698       19,246  
    
 
 
 

Ratio of earnings to fixed charges

      —         —         —         —