EX-12.1 7 ex121_ratioxofxearnings.htm EXHIBIT 12.1
EXHIBIT 12.1
FLOTEK INDUSTRIES, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(unaudited, in thousands, except for ratio)

| Six months ended June 30, |  | Year ended December 31,
| 2017 |  | 2016 |  | 2015 |  | 2014 |  | 2013 |  | 2012
COMPUTATION OF EARNINGS: |  |  |  |  |  |  |  |  |  |  |
Income (loss) from continuing operations before income taxes | $ | (2,628 | ) |  | $ | 3,144 |  |  | $ | 10,634 |  |  | $ | 56,870 |  |  | $ | 35,896 |  |  | $ | 19,993 |
Add: |  |  |  |  |  |  |  |  |  |  |
Fixed charges, as defined | 1,571 |  |  | 2,831 |  |  | 2,117 |  |  | 1,823 |  |  | 2,132 |  |  | 8,382 |
Subtract: |  |  |  |  |  |  |  |  |  |  |
Capitalized interest | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (91 | )
Earnings (loss), as defined | $ | (1,057 | ) |  | $ | 5,975 |  |  | $ | 12,751 |  |  | $ | 58,693 |  |  | $ | 38,028 |  |  | $ | 28,284 |
COMPUTATION OF FIXED CHARGES: |  |  |  |  |  |  |  |
Interest expense, including capitalized interest | $ | 1,145 |  |  | $ | 1,979 |  |  | $ | 1,521 |  |  | $ | 1,373 |  |  | $ | 1,766 |  |  | $ | 8,059 |
Estimate of interest within rental expense (1) | 426 |  |  | 852 |  |  | 596 |  |  | 450 |  |  | 366 |  |  | 323 |
Fixed charges, as defined | $ | 1,571 |  |  | $ | 2,831 |  |  | $ | 2,117 |  |  | $ | 1,823 |  |  | $ | 2,132 |  |  | $ | 8,382 |
Ratio of earnings to fixed charges | N/A |  |  | 2.11 |  |  | 6.02 |  |  | 32.20 |  |  | 17.84 |  |  | 3.37 |
Deficiency of earnings to cover fixed charges | $ | (2,628 | ) |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |  |  | N/A |

(1) | One-third of rental expense is deemed to be representative of interest.