Exhibit 12.1
3D SYSTEMS CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
| Three Months Ended March 31, | Twelve Months Ended December 31, | |||||||||||||||||||||||||||
| 2013 | 2012 | 2012 | 2011 | 2010 | 2009 | 2008 (2) | ||||||||||||||||||||||
| Fixed charges |
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| Interest on debt and capitalized leases |
886,863 | 2,226,322 | 8,592,188 | 1,680,415 | 587,252 | 617,992 | 917,682 | |||||||||||||||||||||
| Amortization of debt discount and expense |
467,539 | 959,918 | 3,876,000 | 409,219 | — | — | — | |||||||||||||||||||||
| Interest element of rentals |
513,486 | 394,605 | 1,654,344 | 911,754 | 658,341 | 568,431 | 632,700 | |||||||||||||||||||||
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| Total fixed charges |
1,867,888 | 3,580,845 | 14,122,532 | 3,001,388 | 1,245,593 | 1,186,423 | 1,550,382 | |||||||||||||||||||||
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| Earnings |
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| Net income (loss) |
5,883,000 | 6,188,000 | 38,941,000 | 35,420,000 | 19,566,000 | 1,139,000 | (6,154,000 | ) | ||||||||||||||||||||
| Addback: |
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| Extraordinary charge |
— | — | — | — | — | — | — | |||||||||||||||||||||
| Loss from discontinued operation |
— | — | — | — | — | — | — | |||||||||||||||||||||
| Consolidated provision for income taxes |
1,569,000 | 1,100,000 | 4,338,000 | (2,974,000 | ) | 173,000 | 774,000 | 294,000 | ||||||||||||||||||||
| Fixed charges |
1,867,888 | 3,580,845 | 14,122,532 | 3,001,388 | 1,245,593 | 1,186,423 | 1,550,382 | |||||||||||||||||||||
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| Subtotal earnings (loss) |
9,319,888 | 10,868,845 | 57,401,532 | 35,447,388 | 20,984,593 | 3,099,423 | (4,309,618 | ) | ||||||||||||||||||||
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| Less : Undistributed earning of less-than-50% owned affiliates |
— | — | — | — | — | 73,000 | — | |||||||||||||||||||||
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| Total earnings (loss) |
9,319,888 | 10,868,845 | 57,401,532 | 35,447,388 | 20,984,593 | 3,026,423 | (4,309,618 | ) | ||||||||||||||||||||
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| Ratio of earnings to fixed charges (1) |
5.0 | 3.0 | 4.1 | 11.8 | 16.8 | 2.6 | (2.8 | ) | ||||||||||||||||||||
| (1) | The ratio of earnings to fixed charges was computed by dividing earnings (loss) before income taxes by fixed charges from operations for the periods indicated. Fixed charges are the sum of (i) interest expense, including amortization of discounts and accretion of final payments related to indebtedness, and (ii) one-third of all rental expense, which we consider to be a reasonable approximation of the interest factor included in rental expense. |
| (2) | The deficiency to cover a one-to-one ratio of fixed charges was $5,860,000. |