EX-12.1 6 sei-ex121_20131231xk.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES SEI-EX12.1_2013.12.31-K


EXHIBIT 12.1
SEITEL, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
(Unaudited)

 
Year Ended December 31,
 
2013
 
2012
 
2011
 
2010
 
2009
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
28,213

 
$
29,143

 
$
35,246

 
$
41,094

 
$
41,194

Capitalized interest expense
—

 
—

 
—

 
—

 
—

Portion of rental expense representative of interest factor
579

 
612

 
578

 
564

 
539

Total fixed charges
$
28,792

 
$
29,755

 
$
35,824

 
$
41,658

 
$
41,733

Earnings before fixed charges:

 


 


 


 


Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle

$
23,741

 
$
43,832

 
$
2,608

 
$
(67,425
)
 
$
(99,771
)
Fixed charges
28,792

 
29,755

 
35,824

 
41,658

 
41,733

Capitalized interest expense
—

 
—

 
—

 
—

 
—

Total earnings before fixed charges
$
52,533

 
$
73,587

 
$
38,432

 
$
(25,767
)
 
$
(58,038
)
Ratio of earnings to fixed charges:
 
 
 
 
 
 
 
 
 
Earnings before fixed charges
$
52,533

 
$
73,587

 
$
38,432

 
$
(25,767
)
 
$
(58,038
)
Fixed charges
28,792

 
29,755

 
35,824

 
41,658

 
41,733

Ratio of earnings to fixed charges
1.8

 
2.5

 
1.1

 
—

 
—

Amount of deficiency (if negative)
—

 
—

 
—

 
(67,425
)
 
(99,771
)