EX-12.1 4 a16-10200_1ex12d1.htm EX-12.1

Exhibit 12.1

 

Intrepid Potash, Inc.

Computation of Ratio of (Loss) Earnings to Fixed Charges

(In Thousands, Except Ratios)

 

 

 

Intrepid Potash, Inc.

 

 

 

Three
Months
Ended March
31,

 

Year Ended December 31,

 

 

 

2016

 

2015

 

2014

 

2013

 

2012

 

2011

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) Income from continuing operations before income taxes

 

$

(18,425

)

$

(374,803

)

$

10,811

 

$

38,093

 

$

136,927

 

$

175,261

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additions:

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

2,835

 

9,050

 

9,471

 

9,757

 

2,244

 

2,435

 

Amortization of capitalized interest

 

8

 

131

 

153

 

101

 

—

 

—

 

 

 

2,843

 

9,181

 

9,624

 

9,858

 

2,244

 

2,435

 

Subtractions:

 

 

 

 

 

 

 

 

 

 

 

 

 

Capitalized interest

 

(90

)

(293

)

(456

)

(3,375

)

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) Earnings as adjusted

 

$

(15,672

)

$

(365,915

)

$

19,979

 

$

44,576

 

$

139,171

 

$

177,696

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed on indebtedness

 

$

1,424

 

$

5,968

 

$

6,320

 

$

4,539

 

$

510

 

$

412

 

Capitalized interest

 

90

 

293

 

456

 

3,375

 

—

 

—

 

Amortization of debt expense

 

805

 

383

 

368

 

367

 

342

 

401

 

Interest within rent expense

 

516

 

2,406

 

2,327

 

1,476

 

1,392

 

1,622

 

Total fixed charges

 

$

2,835

 

$

9,050

 

$

9,471

 

$

9,757

 

$

2,244

 

$

2,435

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

(5.5

)

(40.4

)

2.1

 

4.6

 

62.0

 

73.0

 

 

 

The dollar amount required to bring our ratio of earnings to fixed charges to one-to-one is  $18,507,000 and $374,965,000 for the three months ended March 31, 2016 and the year ended December 31, 2015, respectively.