EX-12.1 23 dex121.htm STATEMENT OF RATIO OF EARNINGS TO FIXED CHARGES Statement of Ratio of Earnings to Fixed Charges

Exhibit 12.1

Seitel, Inc.

Statement Showing Computation of Ratio of Earnings to Fixed Charges

(In thousands)

(Unaudited)

 

     Year Ended December 31,    Three Months Ended  
     2002     2003     2004     2005     2006    3/31/2006    3/31/2007  

Fixed charges:

                

Interest expense

   $ 21,248     $ 20,526     $ 25,356     $ 24,845     $ 24,208    $ 6,045    $ 12,185  

Capitalized interest expense

     664       —         —         —         —        —        —    

Portion of rental expense representative of interest factor

     471       300       418       426       460      104      136  
                                                      

Total fixed charges

   $ 22,383     $ 20,826     $ 25,774     $ 25,271     $ 24,668    $ 6,149    $ 12,321  
                                                      

Earnings before fixed charges:

                

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

   $ (156,873 )   $ (36,878 )   $ (95,580 )   $ (6,562 )   $ 46,641    $ 6,970    $ (34,720 )

Fixed charges

     22,383       20,826       25,774       25,271       24,668      6,149      12,321  

Capitalized interest expense

     (664 )     —         —         —         —        
                                                      

Total earnings before fixed charges

   $ (135,154 )   $ (16,052 )   $ (69,806 )   $ 18,709     $ 71,309    $ 13,119    $ (22,399 )
                                                      

Ratio of earnings to fixed charges:

                

Earnings before fixed charges

   $ (135,154 )   $ (16,052 )   $ (69,806 )   $ 18,709     $ 71,309    $ 13,119    $ (22,399 )

Fixed charges

     22,383       20,826       25,774       25,271       24,668      6,149      12,321  
                                                      

Ratio of earnings to fixed charges

     —         —         —         —         2.9      2.1      —