W R GRACE & CO - FORM 10-K - EX-12 - EXHIBIT 12 - February 23, 2017

Attached files

file filename
EX-95 - EXHIBIT 95 - W R GRACE & COexhibit95_20164q.htm
EX-32 - EXHIBIT 32 - W R GRACE & COexhibit32_20164q.htm
EX-31.(I).2 - EXHIBIT 31.(I).2 - W R GRACE & COexhibit31i2_20164q.htm
EX-31.(I).1 - EXHIBIT 31.(I).1 - W R GRACE & COexhibit31i1_20164q.htm
EX-24 - EXHIBIT 24 - W R GRACE & COexhibit24_20164q.htm
EX-23 - EXHIBIT 23 - W R GRACE & COexhibit23_20164q.htm
EX-21 - EXHIBIT 21 - W R GRACE & COexhibit21_20164q.htm
10-K - 10-K - W R GRACE & COgra-201610xk.htm


EXHIBIT 12

W. R. GRACE & CO. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS(1)(2)
(In millions, except ratios)
(Unaudited)

 
 
Year Ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
Net income attributable to W. R. Grace & Co. shareholders
 
$
94.1

 
$
144.2

 
$
276.3

 
$
256.1

 
$
40.0

Provision for (benefit from) income taxes
 
59.0

 
69.8

 
(12.4
)
 
29.2

 
(119.9
)
Equity in earnings of unconsolidated affiliate
 
(29.8
)
 
(20.4
)
 
(19.7
)
 
(22.9
)
 
(18.5
)
Distributed income of earnings of unconsolidated affiliates
 
31.0

 
11.8

 
11.2

 
2.8

 
6.3

Interest expense and related financing costs, including amortization of capitalized interest, less interest capitalized
 
92.1

 
99.8

 
123.5

 
40.7

 
45.2

Estimated amount of rental expense deemed to represent the interest factor
 
8.0

 
7.9

 
8.2

 
7.6

 
7.4

Income as adjusted
 
$
254.4

 
$
313.1

 
$
387.1

 
$
313.5

 
$
(39.5
)
Combined fixed charges and preferred stock dividends:
 
 
 
 
 
 
 
 
 
 
Interest expense and related financing costs, including capitalized interest
 
$
93.2

 
$
100.5

 
$
124.8

 
$
41.8

 
$
45.2

Estimated amount of rental expense deemed to represent the interest factor
 
8.0

 
7.9

 
8.2

 
7.6

 
7.4

Fixed charges
 
101.2

 
108.4

 
133.0

 
49.4

 
52.6

Combined fixed charges and preferred stock dividends
 
$
101.2

 
$
108.4

 
$
133.0

 
$
49.4

 
$
52.6

Ratio of earnings to fixed charges
 
2.51

 
2.89

 
2.91

 
6.35

 
—

Ratio of earnings to fixed charges and preferred stock dividends
 
2.51

 
2.89

 
2.91

 
6.35

 
—

___________________________________________________________________________________________________________________
(1)
Grace did not have preferred stock from 2012 through 2016.
(2)
The 2012 ratio of earnings to fixed charges is below a one-to-one ratio. An additional $92.1 million in     earnings would be needed to attain a one-to-one ratio.

1

W R GRACE & CO Reports