Attached files
file | filename |
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EX-31.(I).2 - EXHIBIT 31.(I).2 - W R GRACE & CO | exhibit31i2_20154q.htm |
EX-31.(I).1 - EXHIBIT 31.(I).1 - W R GRACE & CO | exhibit31i1_20154q.htm |
EX-95 - EXHIBIT 95 - W R GRACE & CO | exhibit95_20154q.htm |
EX-21 - EXHIBIT 21 - W R GRACE & CO | exhibit21_20154q.htm |
EX-32 - EXHIBIT 32 - W R GRACE & CO | exhibit32_20154q.htm |
EX-24 - EXHIBIT 24 - W R GRACE & CO | exhibit24_20154q.htm |
10-K - 10-K - W R GRACE & CO | gra-201510xk.htm |
EX-23 - EXHIBIT 23 - W R GRACE & CO | exhibit23_20154q.htm |
EXHIBIT 12
W. R. GRACE & CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS(1)(2)
(In millions, except ratios)
(Unaudited)
Year Ended December 31, | ||||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||||
Net income attributable to W. R. Grace & Co. shareholders | $ | 144.2 | $ | 276.3 | $ | 256.1 | $ | 40.0 | $ | 219.7 | ||||||||||
Provision for (benefit from) income taxes | 164.7 | 57.0 | 102.9 | (61.6 | ) | 87.9 | ||||||||||||||
Equity in earnings of unconsolidated affiliate | (20.4 | ) | (19.7 | ) | (22.9 | ) | (18.5 | ) | (15.2 | ) | ||||||||||
Distributed income of earnings of unconsolidated affiliates | 11.8 | 11.2 | 2.8 | 6.3 | 10.9 | |||||||||||||||
Interest expense and related financing costs, including amortization of capitalized interest, less interest capitalized | 101.3 | 127.4 | 43.9 | 46.8 | 43.6 | |||||||||||||||
Estimated amount of rental expense deemed to represent the interest factor | 8.8 | 9.4 | 8.8 | 7.5 | 6.9 | |||||||||||||||
Income as adjusted | $ | 410.4 | $ | 461.6 | $ | 391.6 | $ | 20.5 | $ | 353.8 | ||||||||||
Combined fixed charges and preferred stock dividends: | ||||||||||||||||||||
Interest expense and related financing costs, including capitalized interest | $ | 102.0 | $ | 128.7 | $ | 45.0 | $ | 46.9 | $ | 43.6 | ||||||||||
Estimated amount of rental expense deemed to represent the interest factor | 8.8 | 9.4 | 8.8 | 7.5 | 6.9 | |||||||||||||||
Fixed charges | 110.8 | 138.1 | 53.8 | 54.4 | 50.5 | |||||||||||||||
Combined fixed charges and preferred stock dividends | $ | 110.8 | $ | 138.1 | $ | 53.8 | $ | 54.4 | $ | 50.5 | ||||||||||
Ratio of earnings to fixed charges | 3.70 | 3.34 | 7.28 | — | 7.01 | |||||||||||||||
Ratio of earnings to fixed charges and preferred stock dividends | 3.70 | 3.34 | 7.28 | — | 7.01 |
___________________________________________________________________________________________________________________
(1) | Grace did not have preferred stock from 2011 through 2015. |
(2) | The 2012 ratio of earnings to fixed charges is below a one-to-one ratio. An additional $33.9 million in earnings would be needed to attain a one-to-one ratio. |
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