ITRON, INC. - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - September 2, 2016

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EX-32.1 - EXHIBIT 32.1 - ITRON, INC.itriex-32106302016.htm
10-Q - 10-Q - ITRON, INC.itri10q63016.htm
EX-31.2 - EXHIBIT 31.2 - ITRON, INC.itriex-31206302016.htm
EX-31.1 - EXHIBIT 31.1 - ITRON, INC.itriex-31106302016.htm
Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2016
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
 
2012
 
2011
 
(in thousands, except ratios)
Earnings
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income (loss)
$
52,105

 
$
37,102

 
$
(18,265
)
 
$
(153,400
)
 
$
125,194

 
$
(503,677
)
Add: dividends received from equity investees
148

 
444

 
681

 
707

 
571

 
307

Less: noncontrolling interest income
(1,280
)
 
(2,325
)
 
(1,370
)
 
(2,219
)
 
(1,949
)
 
(3,961
)
Less: income from equity investees
(209
)
 
(807
)
 
(270
)
 
(954
)
 
(517
)
 
(817
)
 
50,764

 
34,414

 
(19,224
)
 
(155,866
)
 
123,299

 
(508,148
)
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:(2)
 
 
 
 
 
 
 
 
 
 
 
Interest expense, gross(3)
5,653

 
12,289

 
11,602

 
10,686

 
10,115

 
36,794

Interest portion of rent expense
2,480

 
5,405

 
6,832

 
6,651

 
6,462

 
6,855

 
 
 
 
 
 
 
 
 
 
 
 
a) Fixed charges
8,133

 
17,694

 
18,434

 
17,337

 
16,577

 
43,649

 
 
 
 
 
 
 
 
 
 
 
 
b) Earnings for ratio(4)
$
58,897

 
$
52,108

 
$
(790
)
 
$
(138,529
)
 
$
139,876

 
$
(464,499
)
 
 
 
 
 
 
 
 
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
 
Earnings to fixed charges (b/a)(5)
7.2

 
2.9

 
N/A

 
N/A

 
8.4

 
N/A

 
 
 
 
 
 
 
 
 
 
 
 
Deficit of earnings to fixed charges
N/A

 
N/A

 
$
(19,224
)
 
$
(155,866
)
 
N/A

 
$
(508,148
)

(1) 
We had no preferred stock outstanding for any period presented and accordingly our ratio of earnings to combined fixed charges and preferred stock dividends is the same as our ratio of earnings to fixed charges for all periods presented.

(2) 
Fixed charges consist of interest on indebtedness and amortization of debt issuance costs plus that portion of lease rental expense representative of the interest factor.

(3) 
Interest expense, gross, includes amortization of prepaid debt fees.

(4) 
Earnings for ratio consists of income (loss) from continuing operations before income taxes, plus dividends received from equity method investments, less income from equity investees, less income attributable to noncontrolling interests.

(5) Earnings to fixed charges ratio is not calculated for years with a Deficit of earnings to fixed charges amount as the ratio is less than 1:1.




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