EX-12 13 hecla024510_ex-12.txt STATEMENT RE: COMPUTATION OF RATIOS Exhibit 12 HECLA MINING COMPANY FIXED CHARGE COVERAGE RATIO CALCULATION For the years ended December 31, 1997, 1998, 1999, 2000 and 2001, the six months ended June 30, 2001 and 2002 (dollars in thousands, except ratios)
Six Months Ended June 30, 1997 1998 1999 2000 2001 2001 2002 -------- -------- -------- -------- -------- --------------------- Income (loss) from continuing operations before income taxes, extraordinary charge and cumulative effect of change in accounting princple $ (2,172) $ (5,817) $(43,794) $(84,834) $ (9,582) $ (4,898) $ 6,139 Add: Fixed Charges 10,857 11,392 12,791 16,283 11,980 6,641 4,998 Less: Capitalized Interest (806) (959) (19) -- -- -- -- Adjusted income (loss) before -------- -------- -------- -------- -------- -------- -------- income taxes, extraordinary item and cumulative effect of change in accounting principle $ 7,879 $ 4,616 $(31,022) $(68,551) $ 2,398 $ 1,743 $ 11,137 ======== ======== ======== ======== ======== ======== ======== Fixed charges: Preferred stock dividends $ 8,050 $ 8,050 $ 8,050 $ 8,050 $ 8,050 $ 4,025 $ 4,025 Interest portion of rentals 358 73 134 114 43 -- 36 Total interest costs 2,449 3,269 4,607 8,119 3,887 2,616 937 -------- -------- -------- -------- -------- -------- -------- Total fixed charges $ 10,857 $ 11,392 $ 12,791 $ 16,283 $ 11,980 $ 6,641 $ 4,998 ======== ======== ======== ======== ======== ======== ======== Fixed Charge Ratio (a) (a) (a) (a) (a) (a) 2.23 Inadequate coverage $ 2,978 $ 6,776 $ 43,813 $ 84,834 $ 9,582 $ 4,898 $ -- ======== ======== ======== ======== ======== ======== ========
(a) Earnings for period inadequate to cover fixed charges.