Kraton Corp - FORM 10-K - EX-12.1 - RATIO OF EARNINGS TO FIXED CHARGES - March 7, 2011

Attached files

file filename
10-K - FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2010 - Kraton Corpd10k.htm
EX-21.1 - LIST OF SIGNIFICANT SUBSIDIARIES - Kraton Corpdex211.htm
EX-32.1 - SECTION 906 CERTIFICATIONS OF CEO AND CFO - Kraton Corpdex321.htm
EX-31.2 - SECTION 302 CERTIFICATION OF CFO - Kraton Corpdex312.htm
EX-23.1 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Kraton Corpdex231.htm
EX-24.1 - POWERS OF ATTORNEY - Kraton Corpdex241.htm
EX-31.1 - SECTION 302 CERTIFICATION OF CEO - Kraton Corpdex311.htm
EX-10.54 - EMPLOYMENT AGREEMENT (LEE) - Kraton Corpdex1054.htm

Exhibit 12.1

KRATON PERFORMANCE POLYMERS, INC.

Ratio of Earnings to Fixed Charges

(In thousands)

 

     December 31,
2010		     December 31,
2009		     December 31,
2008		     December 31,
2007		     December 31,
2006		  

Fixed Charges:

           

+ Interest expensed

      22,509        29,866        35,212        42,632        40,064   

+ Interest capitalized

      520        —          —          —          —     

+ Amortization of deferred financing costs

      2,071        4,090        2,139        2,715        2,351   

+ Accretion of debt discount

      —          —          —          —          25,942   

+ Estimate of interest within rental expense

      2,205        1,734        2,800        2,449        2,449   

+ Preference security dividend requirements

      —          —          —          —          —     
                                        

Total fixed charges

      27,305        35,690        40,151        47,796        70,806   

Earnings:

           

+ Pre-tax income (loss)

      111,858        (1,657 )      36,850        (37,629 )      (4,022 ) 

- Income from equity investees

      (487 )      (403 )      (437 )      (626 )      (168 ) 

+ fixed charges

      27,305        35,690        40,151        47,796        70,806   

+ Amortization of capitalized interest

      —          —          —          —          —     

+ Distributed income of equity investees

      403        433        1,041        106        1,265   

+ Pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges

      —          —          —          —          —     

- Interest capitalized

      (520 )      —          —          —          —     

- Preference security dividend requirements

      —          —          —          —          —     

- The minority interest in pre-tax income
of subsidiaries that have not incurred fixed charges

      —          —          —          —          —     
                                        

Total Earnings

      138,559        34,063        77,605        9,647        67,881   

Deficiency (Surplus)

      (111,254 )      1,627        (37,454 )      38,149        2,925   
                                        

Ratio

      5.07        0.95        1.93        0.20        0.96   

Ratio of Earnings to Fixed Charges

      5.1:1.0        1.0:1.0        1.9:1.0        0.2:1.0        1.0:1.0   

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.

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