EX-12.1 16 d271740dex121.htm STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Computation of Ratio of Earnings to Fixed Charges

Exhibit 12.1

KRATON PERFORMANCE POLYMERS, INC.

Ratio of Earnings to Fixed Charges

(In thousands)

 

     December 31,
2011
    December 31,
2010
    December 31,
2009
    December 31,
2008
    December 31,
2007
 

Fixed Charges:

          

+ Interest expensed

     23,422        22,509        29,866        35,212        42,632   

+ Interest capitalized

     2,259        520        0        0        0   

+ Amortization of debt issuance costs

     6,722        2,071        4,090        2,139        2,715   

+ Accretion of debt discount

     0        0        0        0        0   

+ Estimate of interest within rental expense

     2,846        2,205        1,734        2,800        2,449   

+ Preference security dividend requirements

     0        0        0        0        0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

     35,249        27,305        35,690        40,151        47,796   

Earnings:

          

+ Pre-tax income (loss)

     91,509        111,858        (1,657     36,850        (37,629

- Income from equity investees

     (529     (487     (403     (437     (626

+ fixed charges

     35,249        27,305        35,690        40,151        47,796   

+ Amortization of capitalized interest

     226        0        0        0        0   

+ Distributed income of equity investees

     515        403        433        1,041        106   

+ Pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges

     0        0        0        0        0   

-  Interest capitalized

     (2,259     (520     0        0        0   

-  Preference security dividend requirements

     0        0        0        0        0   

-  The minority interest in pre-tax income of subsidiaries that have not incurred fixed charges

     0        0        0        0        0   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total Earnings

     124,711        138,559        34,063        77,605        9,647   

Deficiency (Surplus)

     (89,462     (111,254     1,627        (37,454     38,149   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio

     3.54        5.07        0.95        1.93        0.20   

Ratio of Earnings to Fixed Charges

     3.54:1.0        5.07:1.0        0.95:1.0        1.93:1.0        0.20:1.0   

Our earnings were insufficient to cover our fixed charges by approximately $1.6 million and $38.1 million for the years ended December 31, 2009 and 2007, respectively.