EX-12.1 2 sei-ex121_20151231xk.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


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

 
Year Ended December 31,
 
2015
 
2014
 
2013
 
2012
 
2011
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
25,430

 
$
25,222

 
$
28,213

 
$
29,143

 
$
35,246

Capitalized interest expense
—

 
—

 
—

 
—

 
—

Portion of rental expense representative of interest factor
424

 
433

 
579

 
612

 
578

Total fixed charges
$
25,854

 
$
25,655

 
$
28,792

 
$
29,755

 
$
35,824

Earnings before fixed charges:
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes and cumulative effect of change in accounting principle
$
(30,085
)
 
$
19,971

 
$
23,741

 
$
43,832

 
$
2,608

Fixed charges
25,854

 
25,655

 
28,792

 
29,755

 
35,824

Capitalized interest expense
—

 
—

 
—

 
—

 
—

Total earnings before fixed charges
$
(4,231
)
 
$
45,626

 
$
52,533

 
$
73,587

 
$
38,432

Ratio of earnings to fixed charges:
 
 
 
 
 
 
 
 
 
Earnings before fixed charges
$
(4,231
)
 
$
45,626

 
$
52,533

 
$
73,587

 
$
38,432

Fixed charges
25,854

 
25,655

 
28,792

 
29,755

 
35,824

Ratio of earnings to fixed charges
—

 
1.8

 
1.8

 
2.5

 
1.1

Amount of deficiency (if negative)
(30,085
)
 
—

 
—

 
—

 
—