Exhibit 12.1 |
GEVO, INC. |
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES |
(in thousands) |
Six Months | ||||||||||||||||||||||||
Fiscal Year Ended December 31, | Ended June | |||||||||||||||||||||||
2013 | 2014 | 2015 | 2016 | 2017 | 30, 2018 | |||||||||||||||||||
Loss: | ||||||||||||||||||||||||
Loss from continuing operations | $ | (55,515 | ) | $ | (39,777 | ) | $ | (31,927 | ) | $ | (23,985 | ) | $ | (23,282 | ) | $ | (9,378 | ) | ||||||
Add: Fixed charges | 9,681 | 12,159 | 8,372 | 7,943 | 3,035 | 1,729 | ||||||||||||||||||
Less: Capitalized interest | (232 | ) | — | — | — | — | — | |||||||||||||||||
Total loss | $ | (46,066 | ) | $ | (27,618 | ) | $ | (23,555 | ) | $ | (16,042 | ) | $ | (20,247 | ) | $ | (7,649 | ) | ||||||
Fixed Charges: | ||||||||||||||||||||||||
Interest expense | $ | 4,582 | $ | 4,164 | $ | 4,471 | $ | 3,860 | $ | 1,989 | $ | 845 | ||||||||||||
Amortization and expensing of debt expense | 4,719 | 7,860 | 3,772 | 3,977 | 962 | 884 | ||||||||||||||||||
Interest component of rent expense | 148 | 135 | 129 | 106 | 84 | — | ||||||||||||||||||
Capitalized interest | 232 | — | — | — | — | — | ||||||||||||||||||
Total fixed charges | $ | 9,681 | $ | 12,159 | $ | 8,372 | $ | 7,943 | $ | 3,035 | $ | 1,729 | ||||||||||||
Ratio of Earnings to Fixed Charges | — | — | — | — | — | — | ||||||||||||||||||
Deficiency of Earnings Available to Cover Fixed Charges | $ | (55,747 | ) | $ | (39,777 | ) | $ | (31,927 | ) | $ | (23,985 | ) | $ | (23,282 | ) | $ | (9,378 | ) |