Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - GLOBAL BRASS & COPPER HOLDINGS, INC. | brss-12312015xex321.htm |
| EX-31.1 - EXHIBIT 31.1 - GLOBAL BRASS & COPPER HOLDINGS, INC. | brss-12312015xex311.htm |
| EX-23.1 - EXHIBIT 23.1 - GLOBAL BRASS & COPPER HOLDINGS, INC. | brss-12312015xex231.htm |
| EX-21.1 - EXHIBIT 21.1 - GLOBAL BRASS & COPPER HOLDINGS, INC. | brss-12312015xex211.htm |
| EX-31.2 - EXHIBIT 31.2 - GLOBAL BRASS & COPPER HOLDINGS, INC. | brss-12312015xex312.htm |
| 10-K - 10-K - GLOBAL BRASS & COPPER HOLDINGS, INC. | brss-12312015x10k.htm |
Exhibit 12.1
Global Brass and Copper Holdings, Inc.
Computation of Ratio of Earnings to Fixed Charges
Year Ended December 31, | |||||||||||||||||||
2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||
(in millions) | |||||||||||||||||||
Earnings | |||||||||||||||||||
Income before provision for income taxes and equity income | $ | 51.4 | $ | 47.6 | $ | 31.4 | $ | 31.1 | $ | 85.8 | |||||||||
Add: | |||||||||||||||||||
Fixed charges | 40.3 | 40.9 | 41.0 | 40.9 | 41.8 | ||||||||||||||
Amortization of capitalized interest | — | — | — | — | — | ||||||||||||||
Distributions from equity investment | 0.4 | 0.4 | 0.5 | 1.0 | 0.5 | ||||||||||||||
Share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges | — | — | — | — | — | ||||||||||||||
Less: | |||||||||||||||||||
Capitalized interest | 0.2 | 0.2 | 0.1 | — | 0.6 | ||||||||||||||
Preference security dividend requirements of consolidated subsidiaries | — | — | — | — | — | ||||||||||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | 0.3 | 0.6 | 0.4 | 0.5 | 0.2 | ||||||||||||||
Total Earnings | $ | 91.6 | $ | 88.1 | $ | 72.4 | $ | 72.5 | $ | 127.3 | |||||||||
Fixed Charges | |||||||||||||||||||
Interest expense | $ | 39.1 | $ | 39.6 | $ | 39.8 | $ | 39.7 | $ | 40.0 | |||||||||
Capitalized interest | 0.2 | 0.2 | 0.1 | — | 0.6 | ||||||||||||||
Estimated interest in rent expense (a) | 1.0 | 1.1 | 1.1 | 1.2 | 1.2 | ||||||||||||||
Total Fixed Charges | $ | 40.3 | $ | 40.9 | $ | 41.0 | $ | 40.9 | $ | 41.8 | |||||||||
Ratio of Earnings to Fixed Charges | 2.3 | 2.2 | 1.8 | 1.8 | 3.0 | ||||||||||||||
(a) | Interest portion of rental expense is estimated to equal 33% of such expense, which is considered a reasonable approximation of the interest factor. |