Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - HEXCEL CORP /DE/ | d95488d8k.htm |
| EX-1.1 - EX-1.1 - HEXCEL CORP /DE/ | d95488dex11.htm |
| EX-4.1 - EX-4.1 - HEXCEL CORP /DE/ | d95488dex41.htm |
| EX-5.1 - EX-5.1 - HEXCEL CORP /DE/ | d95488dex51.htm |
| EX-4.2 - EX-4.2 - HEXCEL CORP /DE/ | d95488dex42.htm |
Exhibit 12.1
RATIO OF EARNINGS TO FIXED CHARGES
| Six Months Ended June 30, |
Year Ended December 31, | |||||||||||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | |||||||||||||||||||
| Pre-Tax Income |
169.7 | 298.7 | 263.9 | 238.4 | 177.1 | 100.3 | ||||||||||||||||||
| Less: Minority Interests |
(0.9 | ) | (1.4 | ) | (1.3 | ) | (0.7 | ) | (1.6 | ) | (0.5 | ) | ||||||||||||
| Add: Fixed Charges |
7.1 | 14.8 | 14.4 | 17.5 | 18.6 | 30.1 | ||||||||||||||||||
| Less: Capitalized Interest |
(1.3 | ) | (2.6 | ) | (2.9 | ) | (3.1 | ) | (2.0 | ) | (2.5 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| “Earnings” |
174.6 | 309.5 | 274.1 | 252.0 | 192.1 | 127.4 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Interest expense |
4.4 | 8.0 | 7.3 | 9.9 | 11.6 | 22.6 | ||||||||||||||||||
| Capitalized Interest |
1.3 | 2.6 | 2.9 | 3.1 | 2.0 | 2.5 | ||||||||||||||||||
| Rentals (interest component one-third) |
1.4 | 4.2 | 4.2 | 4.4 | 5.1 | 5.0 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| “Fixed Charges” |
7.1 | 14.8 | 14.4 | 17.5 | 18.6 | 30.1 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| Ratio of earnings to fixed charges(1) |
24.6 | 20.9 | 19.0 | 14.4 | 10.3 | 4.2 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
| (1) | The table sets forth our ratio of earnings to fixed charges for the periods indicated. The ratio of earnings to fixed charges was calculated by dividing earnings by fixed charges. Earnings were calculated by adding pre-tax income from continuing operations before adjustment for income from equity investees and fixed charges, excluding capitalized interest. Fixed charges were calculated by adding interest on all indebtedness, including amortization of debt issuance costs and an interest component representing the estimated portion of rental expense that management believes is attributable to interest. |
PRO FORMA RATIO OF EARNINGS TO FIXED CHARGES
| Six Months Ended June 30, |
Year Ended December 31, |
|||||||
| 2015 | 2014 | |||||||
| Pre-Tax Income |
169.7 | 298.7 | ||||||
| Less: Minority Interests |
(0.9 | ) | (1.4 | ) | ||||
| Add: Fixed Charges |
12.0 | 24.6 | ||||||
| Less: Capitalized Interest |
(1.3 | ) | (2.6 | ) | ||||
|
|
|
|
|
|||||
| “Earnings” |
179.5 | 319.4 | ||||||
|
|
|
|
|
|||||
| Interest expense |
9.3 | 17.8 | ||||||
| Capitalized Interest |
1.3 | 2.6 | ||||||
| Rentals (interest component one-third) |
1.4 | 4.2 | ||||||
|
|
|
|
|
|||||
| “Fixed Charges” |
12.0 | 24.6 | ||||||
|
|
|
|
|
|||||
| Ratio of Earnings to Fixed Charges |
14.9 | 13.0 | ||||||
|
|
|
|
|
|||||
| (1) | The table sets forth our ratio of earnings to fixed charges for the periods indicated. The ratio of earnings to fixed charges was calculated by dividing earnings by fixed charges. Earnings were calculated by adding pre-tax income from continuing operations before adjustment for income from equity investees and fixed charges, excluding capitalized interest. Fixed charges were calculated by adding interest on all indebtedness, including amortization of debt issuance costs and an interest component representing the estimated portion of rental expense that management believes is attributable to interest. |