EX-12.1 5 h72683exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
Newpark Resources, Inc.
Ratio of Earnings to Fixed Charges
                                                 
                                            Three Months  
                                            Ended  
    Fiscal Year Ended December 31,     March 31,  
Earnings   2005     2006     2007     2008     2009     2010  
 
                                               
Pretax income from continuing operations
  $ 35,654     $ (16,445 )   $ 47,235     $ 59,346     $ (22,789 )   $ 12,172  
Plus: Fixed charges
    24,664       28,408       31,721       25,522       19,414       5,207  
Less: Preference dividend requirements
    509                                
 
                                   
Total Earnings:
  $ 59,809     $ 11,963     $ 78,956     $ 84,868     $ (3,375 )   $ 17,379  
 
                                   
 
                                               
Fixed Charges
                                               
Interest expense on indebtedness
  $ 16,155     $ 19,975     $ 23,288     $ 14,655     $ 9,614     $ 2,189  
Interest expense on portion of rent
    8,000       8,433       8,433       10,867       9,800       3,018  
Preference dividend
    509                                
 
                                   
Total fixed charges
  $ 24,664     $ 28,408     $ 31,721     $ 25,522     $ 19,414     $ 5,207  
 
                                   
 
                                               
Preferred Security Dividend Requirements
                                               
Ratio of earnings to fixed charges
    2.45 x     (a )     2.49 x     3.33 x     (a )     3.34 x
 
                                   
Ratio of earnings to combined fixed charges and preferred stock dividend requirements
    2.42 x     (b )     2.49 x     3.33 x     (b )     3.34 x
 
                                   
 
(a)   Earnings were inadequate to cover fixed charges. The coverage deficiency totaled $16.4 million and $22.8 million for the years ended December 31, 2006 and December 31, 2009, respectively.
 
(b)   Earnings were inadequate to cover combined fixed charges and preferred security dividends. The coverage deficiency totaled $16.4 million and $22.8 million for the years ended December 31, 2006 and December 31, 2009, respectively

II-23