EX-12.1 7 d475705dex121.htm STATEMENT REGARDING COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Statement regarding computation of ratio of earnings to fixed charges

Exhibit 12.1

StealthGas Inc.

Computation of Ratio of Earnings to Fixed Charges

The following table sets forth our unaudited ratio of earnings to fixed charges for each of the periods noted below. (1)

(Expressed in United States Dollars, except ratios)

 

    Nine
Months
Ended
September 30,
2012		     Years Ended December 31,  
      2011     2010     2009     2008     2007  

Earnings

            

Net income/(loss)

     21,199,409        8,549,791        11,093,191        (13,311,885 )      29,987,484        22,538,107   

Add: Fixed charges

     7,229,500        8,294,878        7,960,745        8,244,639        10,082,119        9,623,105   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Earnings

     28,428,909        16,844,669        19,053,936        (5,067,246 )      40,069,603        32,161,212   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Less:

            

Interest capitalized

     (160,439 )      (557,565 )      (556,314 )      (600,320 )      (389,595 )      —     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
    28,268,470        16,287,104        18,497,622        (5,667,566 )      39,680,008        32,161,212   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges

            

Interest expensed & capitalized

     6,873,954        7,864,282        7,418,572        8,010,850        9,944,394        9,521,720   

Amortization and write off capitalized expenses relating to indebtedness

     325,577        395,446        508,686        202,770        104,986        74,708   

Interest portion of rental expenses

     29,969        35,150        33,487        31,019        32,739        26,677   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
    7,229,500        8,294,878        7,960,745        8,244,639        10,082,119        9,623,105   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio Of Earnings To Fixed Charges

     3.91        1.96        2.32        —          3.94        3.34   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Dollar Amount of Deficiency in Earnings to Fixed Charges

     n/a        n/a        n/a        13,912,205        n/a        n/a   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) We have not issued any preferred stock as of the date of this prospectus.