Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - TimkenSteel Corp | tmst10-q09302016.htm |
| EX-32.1 - EXHIBIT 32.1 - TimkenSteel Corp | tmstexhibit32109302016.htm |
| EX-31.2 - EXHIBIT 31.2 - TimkenSteel Corp | tmstexhibit31209302016.htm |
| EX-31.1 - EXHIBIT 31.1 - TimkenSteel Corp | tmstexhibit31109302016.htm |
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratio amounts)
Nine Months Ended September 30, | Year Ended December 31, | ||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||||||
Income (loss) before income taxes | $ | (65.5 | ) | $ | (115.0 | ) | $ | 158.2 | $ | 127.6 | $ | 234.3 | $ | 252.3 | |||||
Plus: | |||||||||||||||||||
Fixed charges | 9.4 | 5.5 | 8.9 | 12.0 | 5.8 | 3.0 | |||||||||||||
Amortization of capitalized interest | 1.4 | 1.7 | 0.7 | 0.6 | 0.6 | 0.6 | |||||||||||||
Less: | |||||||||||||||||||
Interest capitalized | 0.5 | 1.0 | 6.9 | 10.8 | 4.5 | 1.2 | |||||||||||||
Earnings (loss) | (55.2 | ) | (108.8 | ) | 160.9 | 129.4 | 236.2 | 254.7 | |||||||||||
Interest (A) | 7.4 | 3.9 | 7.1 | 11.0 | 4.8 | 1.8 | |||||||||||||
Amortization of deferred financing costs | 1.1 | 0.5 | 0.9 | 0.1 | 0.2 | 0.4 | |||||||||||||
Interest portion of rental expense | 0.9 | 1.1 | 0.9 | 0.9 | 0.8 | 0.8 | |||||||||||||
Fixed Charges | $ | 9.4 | $ | 5.5 | $ | 8.9 | $ | 12.0 | $ | 5.8 | $ | 3.0 | |||||||
Ratio of Earnings to Fixed Charges | (B) | (B) | 18.08 | 10.78 | 40.72 | 84.90 | |||||||||||||
(A) Amount includes interest expense on debt and capitalized interest during the period.
(B) For the nine months ended September 30, 2016, there was a deficiency of earnings to cover the fixed charges of $64.6million. For the year ended December 31, 2015, there was a deficiency of earnings to cover the fixed charges of $114.3 million. Accordingly, the ratios for these periods have not been presented.