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Previous: HECLA MINING CO/DE/, 10-Q, EX-10.2, 2000-08-11 |
Next: HECLA MINING CO/DE/, 10-Q, EX-27, 2000-08-11 |
<PAGE> 1
Exhibit 12
HECLA MINING COMPANY
FIXED CHARGE COVERAGE RATIO CALCULATION
For the Six Months Ended June 30, 2000 and 1999
(In thousands, except ratios)
<TABLE>
<CAPTION>
Six Months Six Months
2000 1999
---------- ----------
<S> <C> <C>
Income (loss) before income taxes,
extraordinary item and cumulative
effect of change in accounting principle $ (23,259) $ 2,375
Add: Fixed Charges 8,304 6,840
Less: Capitalized Interest - - - -
--------- ---------
Adjusted income (loss) before income taxes,
extraordinary item and cumulative effect
of change in accounting principle $ (14,955) $ 9,215
========= =========
Fixed charges:
Preferred stock dividends $ 4,025 $ 4,025
Income tax effect on preferred
stock dividends - - 279
Interest portion of rentals 552 654
Interest expense 3,727 1,882
--------- ---------
Total fixed charges $ 8,304 $ 6,840
========= =========
Fixed Charge Ratio (a) 1.35
Write-downs and other noncash charges:
DD&A(b) (mining activity) $ 12,073 $ 11,944
DD&A(b) (corporate) 144 173
Reduction in carrying value of mining
properties 9,072 - -
Provision for closed operations and
environmental matters 3,498 610
--------- ---------
$ 24,787 $ 12,727
========= =========
(a)Earnings for period are inadequate to cover fixed charges.
(b)"DD&A" is an abbreviation for "depreciation, depletion and amortization."
</TABLE>
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