EX-12.1 9 d657534dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

COEUR MINING, INC.

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

 

    Nine Months
Ended
September 30,
    Year Ended December 31,  
    2013     2012     2011     2010     2009     2008  

Fixed charges:

           

Interest expense

  $ 28,714,932      $ 26,059,703      $ 32,724,170      $ 27,107,154      $ 17,112,764      $ 2,882,424   

Capitalized interest

    1,494,400        2,663,251        2,175,427        9,884,993        22,824,599        18,724,062   

Amotization of public offering costs

    1,603,487        1,145,548        2,049,964        3,834,568        989,235        1,843,625   

Portion of rent expense representative of interest

    3,103,344        3,986,477        4,028,435        3,342,969        3,774,082        4,380,338   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

  $ 34,916,162      $ 33,854,979      $ 40,977,996      $ 44,169,684      $ 44,700,680      $ 27,830,449   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings available for fixed charges:

           

Net income (loss) from continuing operations before income taxes

  $ (37,362,024   $ 117,289,000      $ 207,836,000      $ (92,665,000   $ (76,073,000   $ (25,550,000

Fixed charges per above

    34,916,162        33,854,979        40,977,996        44,169,684        44,700,680        27,830,449   

Less interest capitalized

    (1,494,400     (2,663,251     (2,175,427     (9,884,993     (22,824,599     (18,724,062

Current period amortization of capitalized interest

    4,831,784        5,725,301        6,428,521        3,294,362        1,436,018        87,810   
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings available for fixed charges

    891,523        154,206,029        253,067,090        (55,085,947     (52,760,901     (16,355,803
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings sufficient (insufficient) to cover fixed charges

  $ (34,024,640   $ 120,351,050      $ 212,089,094      $ (99,255,631   $ (97,461,581   $ (44,186,252
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

    N/A        4.56x        6.18x        N/A        N/A        N/A