EX-12.1 2 sei-ex121_20171231x10xk.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,
 
2017
 
2016
 
2015
 
2014
 
2013
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest expense
$
25,164

 
$
25,337

 
$
25,430

 
$
25,222

 
$
28,213

Capitalized interest expense
—

 
—

 
—

 
—

 
—

Portion of rental expense representative of interest factor
374

 
380

 
424

 
433

 
579

Total fixed charges
$
25,538

 
$
25,717

 
$
25,854

 
$
25,655

 
$
28,792

Earnings before fixed charges:
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before income taxes
$
(32,166
)
 
$
(27,820
)
 
$
(30,085
)
 
$
19,971

 
$
23,741

Fixed charges
25,538

 
25,717

 
25,854

 
25,655

 
28,792

Capitalized interest expense
—

 
—

 
—

 
—

 
—

Total earnings before fixed charges
$
(6,628
)
 
$
(2,103
)
 
$
(4,231
)
 
$
45,626

 
$
52,533

Ratio of earnings to fixed charges:
 
 
 
 
 
 
 
 
 
Earnings before fixed charges
$
(6,628
)
 
$
(2,103
)
 
$
(4,231
)
 
$
45,626

 
$
52,533

Fixed charges
25,538

 
25,717

 
25,854

 
25,655

 
28,792

Ratio of earnings to fixed charges
—

 
—

 
—

 
1.8

 
1.8

Amount of deficiency (if negative)
(32,166
)
 
(27,820
)
 
(30,085
)
 
—

 
—