Attached files
| file | filename |
|---|---|
| EX-23 - EX-23 - CARPENTER TECHNOLOGY CORP | a14-15153_1ex23.htm |
| EX-24 - EX-24 - CARPENTER TECHNOLOGY CORP | a14-15153_1ex24.htm |
| EX-31.A - EX-31.A - CARPENTER TECHNOLOGY CORP | a14-15153_1ex31da.htm |
| EX-18.1 - EX-18.1 - CARPENTER TECHNOLOGY CORP | a14-15153_1ex18d1.htm |
| EX-21 - EX-21 - CARPENTER TECHNOLOGY CORP | a14-15153_1ex21.htm |
| EX-32 - EX-32 - CARPENTER TECHNOLOGY CORP | a14-15153_1ex32.htm |
| EX-31.B - EX-31.B - CARPENTER TECHNOLOGY CORP | a14-15153_1ex31db.htm |
| EXCEL - IDEA: XBRL DOCUMENT - CARPENTER TECHNOLOGY CORP | Financial_Report.xls |
| 10-K - 10-K - CARPENTER TECHNOLOGY CORP | a14-15153_110k.htm |
Exhibit 12
Carpenter Technology Corporation
Computation of Ratios of Earnings to Fixed Charges — unaudited
Five Years Ended June 30, 2014
(dollars in millions)
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Year Ended June 30, |
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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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Fixed charges: |
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Interest costs(a) |
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$ |
32.1 |
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$ |
27.8 |
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$ |
25.0 |
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$ |
17.6 |
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$ |
18.8 |
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Interest component of non-capitalized lease rental expense (b) |
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4.3 |
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4.1 |
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3.3 |
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2.4 |
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2.3 |
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Total fixed charges |
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$ |
36.4 |
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$ |
31.9 |
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$ |
28.3 |
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$ |
20.0 |
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$ |
21.1 |
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Earnings as defined: |
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Income before income taxes |
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$ |
196.4 |
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$ |
216.8 |
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$ |
188.6 |
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$ |
87.8 |
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$ |
4.7 |
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Less income from less-than-fifty-percent owned entities, and loss on sale of partial interest in less-than-fifty percent owned entities |
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(0.6 |
) |
(1.3 |
) |
(0.6 |
) |
(2.6 |
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(1.0 |
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Noncontrolling interest in the income of subsidiary with fixed charges |
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— |
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(0.4 |
) |
(0.4 |
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(0.7 |
) |
— |
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Fixed charges less interest capitalized |
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21.3 |
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25.1 |
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27.1 |
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19.5 |
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20.1 |
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Amortization of capitalized interest |
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1.4 |
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1.5 |
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1.8 |
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2.6 |
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2.8 |
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Earnings as defined |
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$ |
218.5 |
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$ |
241.7 |
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$ |
216.5 |
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$ |
106.6 |
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$ |
26.6 |
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Ratio of earnings to fixed charges |
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6.0x |
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7.6x |
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7.7x |
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5.3x |
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1.3x |
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(a) Includes interest capitalized relating to significant construction projects, and amortization of debt discount and debt issue costs.
(b) One-third of rental expense which approximates the interest component of non-capitalized leases.