Attached files
| file | filename |
|---|---|
| EX-32 - EXHIBIT 32 - RAYONIER ADVANCED MATERIALS INC. | ryamex32q42015.htm |
| EX-21 - EXHIBIT 21 - RAYONIER ADVANCED MATERIALS INC. | ryamex21q42015.htm |
| EX-23 - EXHIBIT 23 - RAYONIER ADVANCED MATERIALS INC. | ryamex23q42015.htm |
| EX-24 - EXHIBIT 24 - RAYONIER ADVANCED MATERIALS INC. | ryamex24q42015.htm |
| EX-31.1 - EXHIBIT 31.1 - RAYONIER ADVANCED MATERIALS INC. | ryamex311q42015.htm |
| EX-31.2 - EXHIBIT 31.2 - RAYONIER ADVANCED MATERIALS INC. | ryamex312q42015.htm |
| 10-K - 10-K - RAYONIER ADVANCED MATERIALS INC. | ryam201510-k.htm |
| EX-10.14 - EXHIBIT 10.14 - RAYONIER ADVANCED MATERIALS INC. | ryamex1014q42015.htm |
| EX-10.20 - EXHIBIT 10.20 - RAYONIER ADVANCED MATERIALS INC. | ryamex1020q42015.htm |
Exhibit 12
Rayonier Advanced Materials Inc.
Computation of Ratios of Earnings to Fixed Charges
(in thousands of dollars, except ratios)
For the Years Ended December 31, | |||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
Earnings: | |||||||||||||||||||
Income before income taxes | $ | 82,864 | $ | 40,471 | $ | 288,915 | $ | 342,489 | $ | 283,052 | |||||||||
Add: | |||||||||||||||||||
Fixed charges | 38,311 | 22,697 | 6,302 | 7,470 | 1,119 | ||||||||||||||
Amortization of capitalized interest | 1,111 | 1,037 | 1,208 | 190 | 60 | ||||||||||||||
Less: | |||||||||||||||||||
Capitalized interest | (1,281 | ) | (117 | ) | (6,144 | ) | (7,178 | ) | (903 | ) | |||||||||
Earnings as defined | $ | 121,005 | $ | 64,088 | $ | 290,281 | $ | 342,971 | $ | 283,328 | |||||||||
Fixed Charges: | |||||||||||||||||||
Interest expense and amortization of debt expense | $ | 36,869 | $ | 22,378 | $ | — | $ | — | $ | — | |||||||||
Capitalized interest | 1,281 | 117 | 6,144 | 7,178 | 903 | ||||||||||||||
Interest factor attributable to rental expense | 161 | 202 | 158 | 292 | 216 | ||||||||||||||
Total Fixed Charges | $ | 38,311 | $ | 22,697 | $ | 6,302 | $ | 7,470 | $ | 1,119 | |||||||||
Ratio of earnings to fixed charges | 3.16 | 2.82 | 46.06 | 45.91 | 253.20 | ||||||||||||||
For periods prior to the Separation, Rayonier's interest expense on general corporate debt was not allocated to the Company. The property, plant and equipment balance for the Company does include previously capitalized interest for periods prior to the Separation.