Attached files
| file | filename |
|---|---|
| S-1 - S-1 - Tower US Holdings Inc. | zk1414989.htm |
| EX-23.B - EXHIBIT 23B - Tower US Holdings Inc. | exhibit_23-b.htm |
| EX-5.A - EXHIBIT 5A - Tower US Holdings Inc. | exhibit_5-a.htm |
| EX-25.A - EXHIBIT 25A - Tower US Holdings Inc. | exhibit_25-a.htm |
EXHIBIT 12(a)
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Three months ended
March 31, 2014
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2013
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2012
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2011
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2010
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2009
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(unaudited)
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Earnings (losses):
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Losses before income taxes
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(12,770 | ) | (16,122 | ) | (10,373 | ) | 7,525 | 40,531 | (4,478 | ) | ||||||||||||||
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Fixed Charges:
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Amortization of expenses
related to indebtedness (a)
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1,936 | 6,770 | 5,705 | 6,802 | 5,767 | 5,199 | ||||||||||||||||||
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Interest expenses (b)
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1,940 | 7,380 | 7,712 | 10,373 | 10,696 | 10,802 | ||||||||||||||||||
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Total Fixed Charges
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3,876 | 14,150 | 13,417 | 17,175 | 16,463 | 16,001 | ||||||||||||||||||
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Earnings (losses), as adjusted
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(8,894 | ) | (1,972 | ) | 3,044 | 24,700 | 56,994 | 11,523 | ||||||||||||||||
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Ratio of earnings to fixed charges
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(1 | ) | (2 | ) | 0.23 | 1.44 | 3.46 | 0.72 | ||||||||||||||||
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(1)
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Earnings as adjusted were inadequate to cover fixed charges by $12.8 million in the three months ended March 31, 2014.
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(2)
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Earnings as adjusted were inadequate to cover fixed charges by $16.1 million in 2013.
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(a)
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Includes mainly amortization of debentures discount.
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(b)
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Includes, mainly, the effective interest of long-term loans based on their terms and interest expenses in relation to debentures.
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