Attached files
Exhibit 12.1
KRATON PERFORMANCE POLYMERS, INC.
Ratio of Earnings to Fixed Charges
(In thousands)
December 31, 2009 |
December 31, 2008 |
December 31, 2007 |
December 31, 2006 |
December 31, 2005 |
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Fixed Charges: |
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+ Interest expensed |
29,866 | 35,212 | 42,632 | 40,064 | 33,119 | ||||||||||
+ Interest capitalized |
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+ Amortization of deferred financing costs |
4,090 | 2,139 | 2,715 | 2,351 | 2,400 | ||||||||||
+ Accretion of debt discount |
| | | 25,942 | 11,653 | ||||||||||
+ Estimate of interest within rental expense |
1,734 | 2,800 | 2,449 | 2,449 | 2,267 | ||||||||||
+ Preference security dividend requirements |
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Total fixed charges |
35,690 | 40,151 | 47,796 | 70,806 | 49,439 | ||||||||||
Earnings: |
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+ Pre-tax income (loss) |
(1,657 | ) | 36,850 | (37,629 | ) | (4,022 | ) | 22,389 | |||||||
- Income from equity investees |
(403 | ) | (437 | ) | (626 | ) | (168 | ) | (1,516 | ) | |||||
+ fixed charges |
35,690 | 40,151 | 47,796 | 70,806 | 49,439 | ||||||||||
+ Amortization of capitalized interest |
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+ Distributed income of equity investees |
433 | 1,041 | 106 | 1,265 | 461 | ||||||||||
+ Pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |
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- Interest capitalized |
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- Preference security dividend requirements |
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- The minority interest in pre-tax income of subsidiaries that have not incurred fixed charges |
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Total Earnings |
34,063 | 77,605 | 9,647 | 67,881 | 70,773 | ||||||||||
Deficiency (Surplus) |
1,627 | (37,454 | ) | 38,149 | 2,925 | (21,334 | ) | ||||||||
Ratio |
0.95 | 1.93 | 0.20 | 0.96 | 1.43 | ||||||||||
Ratio of Earnings to Fixed Charges |
1.0:1.0 | 1.9:1.0 | 0.2:1.0 | 1.0:1.0 | 1.4:1.0 |
Our earnings were insufficient to cover our fixed charges for the year ended December 31, 2009 by approximately $1.6 million, for the year ended December 31, 2007 by approximately $38.1 million and for the year ended December 31, 2006 by approximately $2.9 million.
Exhibit 12.1
KRATON POLYMERS LLC
Ratio of Earnings to Fixed Charges
(In thousands)
December 31, 2009 |
December 31, 2008 |
December 31, 2007 |
December 31, 2006 |
December 31, 2005 |
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Fixed Charges: |
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+ Interest expensed |
29,861 | 35,188 | 42,608 | 39,916 | 32,303 | ||||||||||
+ Interest capitalized |
| | | | | ||||||||||
+ Amortization of deferred financing costs |
4,090 | 2,139 | 2,715 | 2,351 | 2,262 | ||||||||||
+ Accretion of debt discount |
| | | | | ||||||||||
+ Estimate of interest within rental expense |
1,734 | 2,800 | 2,449 | 2,449 | 2,267 | ||||||||||
+ Preference security dividend requirements |
| | | | | ||||||||||
Total fixed charges |
35,685 | 40,127 | 47,772 | 44,716 | 36,832 | ||||||||||
Earnings: |
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+ Pre-tax income (loss) |
(1,652 | ) | 36,874 | (37,605 | ) | 22,068 | 34,179 | ||||||||
- Income from equity investees |
(403 | ) | (437 | ) | (626 | ) | (168 | ) | (1,516 | ) | |||||
+ fixed charges |
35,685 | 40,127 | 47,772 | 44,716 | 36,832 | ||||||||||
+ Amortization of capitalized interest |
| | | | | ||||||||||
+ Distributed income of equity investees |
433 | 1,041 | 106 | 1,265 | 461 | ||||||||||
+ Pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges |
| | | | | ||||||||||
- Interest capitalized |
| | | | | ||||||||||
- Preference security dividend requirements |
| | | | | ||||||||||
- The minority interest in pre-tax income of subsidiaries that have not incurred fixed charges |
| | | | | ||||||||||
Total Earnings |
34,063 | 77,605 | 9,647 | 67,881 | 69,956 | ||||||||||
Deficiency (Surplus) |
1,622 | (37,478 | ) | 38,125 | (23,165 | ) | (33,124 | ) | |||||||
Ratio |
0.95 | 1.93 | 0.20 | 1.52 | 1.90 | ||||||||||
Ratio of Earnings to Fixed Charges |
1.0:1.0 | 1.9:1.0 | 0.2:1.0 | 1.5:1.0 | 1.9:1.0 |
Our earnings were insufficient to cover our fixed charges for the year ended December 31, 2009 by approximately $1.6 million and for the year ended December 31, 2007 by approximately $38.1 million.