Kraton Corp - FORM 10-K - EX-12.1 - STATEMENT OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - March 15, 2010

Attached files

file filename
10-K - FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2009 - Kraton Corpd10k.htm
EX-32.1 - SECTION 906 CERTIFICATIONS OF CEO AND CFO - Kraton Corpdex321.htm
EX-24.1 - POWERS OF ATTORNEY - Kraton Corpdex241.htm
EX-21.1 - LIST OF SIGNIFICANT SUBSIDIARIES - Kraton Corpdex211.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Kraton Corpdex231.htm
EX-31.1 - SECTION 302 CERTIFICATION OF CEO - Kraton Corpdex311.htm
EX-31.2 - SECTION 302 CERTIFICATION OF CFO - Kraton Corpdex312.htm
EX-10.49 - AMENDED AND RESTATED EMPLOYMENT AGREEMENT - STEPHEN W. DUFFY - Kraton Corpdex1049.htm
EX-10.48 - AMENDED AND RESTATED EMPLOYMENT AGREEMENT - LARRY R. FRAZIER - Kraton Corpdex1048.htm

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		  

Fixed Charges:

           

+ Interest expensed

    29,866      35,212      42,632      40,064      33,119   

+ Interest capitalized

    —        —        —        —        —     

+ 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

    —        —        —        —        —     
                              

Total fixed charges

    35,690      40,151      47,796      70,806      49,439   

Earnings:

           

+ 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

    —        —        —        —        —     

+ 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      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		  

Fixed Charges:

           

+ 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:

           

+ 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.

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