Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - HEADWATERS INC | d10q.htm |
| EX-32 - SECTION 906 CEO AND CFO CERTIFICATION - HEADWATERS INC | dex32.htm |
| EX-31.2 - SECTION 302 CFO CERTIFICATION - HEADWATERS INC | dex312.htm |
| EX-31.1 - SECTION 302 CEO CERTIFICATION - HEADWATERS INC | dex311.htm |
Exhibit 12
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
| (in thousands) |
Year Ended September 30, | Quarter Ended December 31 |
|||||||||||||||||||
| 2005 | 2006 | 2007 | 2008 | 2009 | 2009 | ||||||||||||||||
| Fixed Charges Computation |
|||||||||||||||||||||
| Interest expensed and capitalized (1) |
$ | 49,043 | $ | 35,119 | $ | 29,671 | $ | 23,205 | $ | 34,458 | $ | 12,300 | |||||||||
| Amortized premiums, discounts, and capitalized expenses related to indebtedness |
10,634 | 2,843 | 5,318 | 2,773 | 6,386 | 5,416 | |||||||||||||||
| Reasonable approximation of interest within rental expense |
2,433 | 3,092 | 3,440 | 3,499 | 3,919 | 1,062 | |||||||||||||||
| Total Fixed Charges and Preferred Equity Dividends |
$ | 62,110 | $ | 41,054 | $ | 38,429 | $ | 29,477 | $ | 44,763 | $ | 18,778 | |||||||||
| Earnings Computation |
|||||||||||||||||||||
| Pre-tax income from continuing operations before adjustment for minority interests in consolidated subsidiaries or income or loss from equity investees |
$ | 163,808 | $ | 137,816 | $ | 59,236 | $ | (161,874 | ) | $ | (502,272 | ) | $ | (25,237 | ) | ||||||
| Plus |
|||||||||||||||||||||
| Fixed charges |
62,110 | 41,054 | 38,429 | 29,477 | 44,763 | 18,778 | |||||||||||||||
| Minus |
|||||||||||||||||||||
| Interest capitalized |
464 | 1,027 | 784 | 894 | 1,396 | 250 | |||||||||||||||
| Total Earnings |
$ | 225,454 | $ | 177,843 | $ | 96,881 | $ | (133,291 | ) | $ | (458,905 | ) | $ | (6,709 | ) | ||||||
| Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends |
3.63 | 4.33 | 2.52 | N/A | * | N/A | * | N/A | * | ||||||||||||
| * | Total earnings for these periods were less than zero dollars. The deficiency of earnings to fixed charges for the year ended September 30, 2008 was $162.8 million, the deficiency of earnings to fixed charges for the year ended September 30, 2009 was $503.7 million and the. deficiency of earnings to fixed charges for the quarter ended December 31, 2009 was $25.5 million. |
| (1) | Interest expense associated with unrecognized tax benefits is included in income tax expense, not with interest expense. |