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Previous: HECLA MINING CO/DE/, 10-Q, EX-10.14, 2000-11-13 |
Next: HECLA MINING CO/DE/, 10-Q, EX-27, 2000-11-13 |
<PAGE> 1
Exhibit 12
HECLA MINING COMPANY
FIXED CHARGE COVERAGE RATIO CALCULATION
For the Nine Months Ended September 30, 2000 and 1999
(In thousands, except ratios)
<TABLE>
<CAPTION>
Nine Months Nine Months
2000 1999
----------- -----------
<S> <C> <C>
Income (loss) before income taxes,
extraordinary item,and cumulative
effect of change in accounting principle $ (26,828) $ (31,542)
Add: Fixed Charges 12,709 9,469
Less: Capitalized Interest - - (19)
--------- ---------
Adjusted income (loss) before income taxes,
extraordinary item, and cumulative effect
of change in accounting principle $ (14,119) $ (22,092)
========= =========
Fixed charges:
Preferred stock dividends $ 6,038 $ 6,038
Interest portion of rentals 828 315
Total interest cost 5,843 3,116
--------- ---------
Total fixed charges $ 12,709 $ 9,469
========= =========
Fixed Charge Ratio (a) (a)
Inadequate coverage $ 26,828 $ 31,561
========= =========
Write-downs and other noncash charges:
DD&A(b) (mining activity) $ 17,076 $ 17,348
DD&A(b) (corporate) 213 248
Provision for closed operations and
environmental matters 4,020 28,533
Reduction in carrying value of mining
properties 9,072 4,077
--------- ---------
$ 30,381 $ 50,206
========= =========
(a) Earnings for period inadequate to cover fixed charges.
(b) "DD&A" is an abbreviation for "depreciation, depletion and
amortization."
</TABLE>
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