EX-12.1 4 d635174dex121.htm EX-12.1

EX-12.1

Exhibit 12.1

LSB Industries, Inc.

Unaudited Computation of Ratios of Earnings to Fixed Charges and Combined Fixed Charges and Preferred Stock Dividends

(Dollars in Thousands)

		2009				2010				2011				2012				2013
Income from continuing operations before provisions for income taxes and equity in earnings of affiliate		$	35,877			$	48,499			$	129,649			$	91,699			$	90,126
Add:
Fixed charges			8,001				7,254				6,548				4,967				15,068
Share of distributed income of 50% owned affiliate			785				825				1,649				1,782				1,719
Adjusted Earnings		$	44,663			$	56,578			$	137,846			$	98,448			$	106,913
Fixed charges:
Interest expense (1)		$	6,016			$	5,900			$	4,733			$	3,715			$	13,953
Estimate of interest in rental expense			1,985				1,354				1,815				1,252				1,115
Fixed charges:		$	8,001			$	7,254			$	6,548			$	4,967			$	15,068
Preferred stock dividends			519				509				473				472				493
Combined fixed charges and preferred stock dividends		$	8,520			$	7,763			$	7,021			$	5,439			$	15,561
Ratio of earnings to fixed charges			5.6				7.8				21.1				19.8				7.1
Ratio of earnings to combined fixed charges and preferred stock dividends			5.2				7.3				19.6				18.1				6.9

(1) Interest expense includes amortization of deferred debt issuance costs and excludes realized and unrealized gains or losses on interest rate financial instruments that are reported as interest expense.