Attached files
| file | filename |
|---|---|
| 10-K - 10-K - ARMSTRONG WORLD INDUSTRIES INC | d132411d10k.htm |
| EX-11 - EX-11 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex11.htm |
| EX-21 - EX-21 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex21.htm |
| EX-32.2 - EX-32.2 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex322.htm |
| EX-32.1 - EX-32.1 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex321.htm |
| EX-99.1 - EX-99.1 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex991.htm |
| EX-31.1 - EX-31.1 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex311.htm |
| EX-31.2 - EX-31.2 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex312.htm |
| EX-23.1 - EX-23.1 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex231.htm |
| EX-23.2 - EX-23.2 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex232.htm |
| EX-10.12 - EX-10.12 - ARMSTRONG WORLD INDUSTRIES INC | d132411dex1012.htm |
Exhibit No. 12
Armstrong World Industries, Inc. and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(dollar amounts in millions)
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
| Determination of Earnings |
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| Earnings from continuing operations before income taxes |
$ | 123.9 | $ | 185.2 | $ | 198.7 | $ | 234.6 | $ | 222.9 | ||||||||||
| Equity earnings from joint venture |
(66.1 | ) | (65.1 | ) | (59.4 | ) | (55.9 | ) | (54.9 | ) | ||||||||||
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| Earnings from continuing operations before income taxes and equity earnings |
$ | 57.8 | $ | 120.1 | $ | 139.3 | $ | 178.7 | $ | 168.0 | ||||||||||
| Add: |
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| Fixed charges |
54.1 | 55.7 | 78.3 | 63.0 | 55.0 | |||||||||||||||
| Distributed income from equity affiliates (1) |
— | — | — | — | — | |||||||||||||||
| Amortization of capitalized interest |
0.2 | 0.2 | 0.1 | 0.1 | — | |||||||||||||||
| Less: |
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| Capitalized interest |
(1.4 | ) | (2.6 | ) | (2.8 | ) | (3.6 | ) | (1.4 | ) | ||||||||||
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| Total earnings as defined |
$ | 110.7 | $ | 173.4 | $ | 214.9 | $ | 238.2 | $ | 221.6 | ||||||||||
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| Fixed charges |
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| Interest expense |
$ | 45.3 | $ | 46.0 | $ | 68.7 | $ | 53.6 | $ | 48.4 | ||||||||||
| Capitalized interest |
1.4 | 2.6 | 2.8 | 3.6 | 1.4 | |||||||||||||||
| Estimate of interest included in rent expense (2) |
7.4 | 7.1 | 6.8 | 5.8 | 5.2 | |||||||||||||||
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| Total fixed charges |
$ | 54.1 | $ | 55.7 | $ | 78.3 | $ | 63.0 | $ | 55.0 | ||||||||||
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| Ratio of Earnings to Fixed Charges |
2.0 | 3.1 | 2.7 | 3.8 | 4.0 | |||||||||||||||
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| (1) | – Includes only return on investment, not return of investment |
| (2) | – One-third of rental expense is considered to be representative of the interest factor in rental expense. |