Innophos Holdings, Inc. - FORM 10-K - EX-12.1 - STATEMENT RE: CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES, FILED HEREWITH - February 28, 2011

Attached files

file filename
10-K - FORM 10-K - Innophos Holdings, Inc.d10k.htm
EX-10.2 - ASSIGNMENT, ASSUMPTION, AND CONSENT TO BE EFFECTIVE MAY 1, 2009 - Innophos Holdings, Inc.dex102.htm
EX-32.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER DATED FEBRUARY 28, 2011 - Innophos Holdings, Inc.dex321.htm
EX-23.1 - CONSENT OF PRICEWATERHOUSECOOPERS LLP, FILED HEREWITH - Innophos Holdings, Inc.dex231.htm
EX-10.7 - SULFUR SUPPLY CONTRACT DATED AS OF JANUARY 1, 2011 - Innophos Holdings, Inc.dex107.htm
EX-32.2 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER DATED FEBRUARY 28, 2011 - Innophos Holdings, Inc.dex322.htm
EX-31.1 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER DATED FEBRUARY 28, 2011 - Innophos Holdings, Inc.dex311.htm
EX-31.2 - CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER DATED FEBRUARY 28, 2011 - Innophos Holdings, Inc.dex312.htm

Exhibit 12.1

Calculation of Ratio of Earnings to Fixed Charges

 

     December 31,  
(dollars in thousands)    2010     2009     2008     2007     2006  

Earnings

           

Income (loss) before provision for income taxes

    $ 66,488      $ 104,346      $ 262,385      $ 6,409      $ (26,904 ) 

Plus: fixed charges (1)

      30,258        29,067        37,303        44,345        62,531   
                                        
   $ 96,746      $ 133,413      $ 299,688      $ 50,754      $ 35,627   
                                        

Fixed Charges:

           

Gross interest expense

      28,618        27,354        35,565        42,866        61,019   

Estimate of the interest within operating leases

      1,640        1,713        1,738        1,479        1,512   
                                        
   $ 30,258      $ 29,067      $ 37,303      $ 44,345      $ 62,531   
                                        

Ratio of earnings to fixed charges

      3.2 x      4.6 x      8.0 x      1.1 x      *   
                                        

 

(1) For purposes of calculating the ratio of earnings to fixed charges, earnings represent income before income taxes plus fixed charges. Fixed charges consist of interest expense and one-third of operating rental expenses which management believes is representative of the interest component of rent expense.

 

* Due to the loss for 2006 the coverage ratio was less than 1:1. Innophos must generate additional earnings of $26,904 for 2006 to achieve a ratio of 1:1 for this period.

 

Page 85 of 90

Stock widget

Investing forum

Innophos Holdings, Inc. Reports