Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - Koppers Holdings Inc. | kop-10q_20160930.htm |
| EX-32.1 - EX-32.1 - Koppers Holdings Inc. | kop-ex321_9.htm |
| EX-31.2 - EX-31.2 - Koppers Holdings Inc. | kop-ex312_8.htm |
| EX-31.1 - EX-31.1 - Koppers Holdings Inc. | kop-ex311_6.htm |
Exhibit 12.1
KOPPERS HOLDINGS INC.
RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratios)
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2011 |
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2012 |
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2013 |
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2014 |
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2015 |
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Nine Months Ended September 30, 2016 |
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Earnings: |
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Income (loss) from continuing operations before taxes |
|
$ |
52.5 |
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|
$ |
100.6 |
|
|
$ |
77.0 |
|
|
$ |
(5.9 |
) |
|
$ |
(80.1 |
) |
|
$ |
31.4 |
|
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Deduct: Equity earnings net of dividends |
|
|
0.2 |
|
|
|
0.8 |
|
|
|
0.8 |
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|
(1.6 |
) |
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|
(3.1 |
) |
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|
(1.0 |
) |
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Deduct: Pre-tax income of noncontrolling interests |
|
|
0.9 |
|
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|
2.0 |
|
|
0.0 |
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0.0 |
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|
0.0 |
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|
0.0 |
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Add: Fixed charges |
|
|
40.8 |
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|
|
41.6 |
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|
|
39.4 |
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|
|
51.8 |
|
|
|
64.6 |
|
|
|
50.4 |
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Earnings as defined |
|
$ |
92.2 |
|
|
$ |
139.4 |
|
|
$ |
115.6 |
|
|
$ |
47.5 |
|
|
$ |
(12.4 |
) |
|
$ |
82.8 |
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Fixed charges: |
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Interest expensed |
|
$ |
27.2 |
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|
$ |
27.9 |
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|
$ |
26.8 |
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|
$ |
39.1 |
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|
$ |
50.7 |
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$ |
38.3 |
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Other |
|
0.0 |
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0.0 |
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0.4 |
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1.3 |
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0.0 |
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0.0 |
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Rents |
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43.8 |
|
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44.3 |
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|
|
39.4 |
|
|
|
36.7 |
|
|
|
44.7 |
|
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|
38.9 |
|
|
Interest factor |
|
|
31 |
% |
|
|
31 |
% |
|
|
31 |
% |
|
|
31 |
% |
|
|
31 |
% |
|
|
31 |
% |
|
Estimated interest component of rent |
|
|
13.6 |
|
|
|
13.7 |
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12.2 |
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11.4 |
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13.9 |
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|
12.1 |
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Total fixed charges |
|
$ |
40.8 |
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|
$ |
41.6 |
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$ |
39.4 |
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$ |
51.8 |
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$ |
64.6 |
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$ |
50.4 |
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Ratio of earnings to fixed charges(1) |
|
|
2.26 |
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|
|
3.35 |
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|
2.93 |
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|
|
0.92 |
|
|
|
(0.19 |
) |
|
|
1.64 |
|
|
(1) |
In 2014 and 2015, earnings did not cover fixed charges by $4.3 million and $77.0 million, respectively. |