Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT 32.1 - TimkenSteel Corp | tmstexhibit32106302017.htm |
| EX-31.2 - EXHIBIT 31.2 - TimkenSteel Corp | tmstexhibit31206302017.htm |
| EX-31.1 - EXHIBIT 31.1 - TimkenSteel Corp | tmstexhibit31106302017.htm |
| 10-Q - 10-Q - TimkenSteel Corp | tmst10-q06302017.htm |
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratio amounts)
Six Months Ended June 30, | Year Ended December 31, | ||||||||||||||||||
2017 | 2016 | 2015 Adjusted | 2014 Adjusted | 2013 | 2012 | ||||||||||||||
(Loss) income before income taxes | $ | (2.9 | ) | $ | (142.0 | ) | $ | (71.7 | ) | $ | 68.7 | $ | 127.6 | $ | 234.3 | ||||
Plus: | |||||||||||||||||||
Fixed charges | 8.2 | 13.4 | 5.5 | 8.9 | 12.0 | 5.8 | |||||||||||||
Amortization of capitalized interest | 0.8 | 1.9 | 1.7 | 0.7 | 0.6 | 0.6 | |||||||||||||
Less: | |||||||||||||||||||
Interest capitalized | 0.3 | 0.7 | 1.0 | 6.9 | 10.8 | 4.5 | |||||||||||||
Earnings (loss) | 5.8 | (127.4 | ) | (65.5 | ) | 71.4 | 129.4 | 236.2 | |||||||||||
Interest (A) | 6.8 | 10.6 | 3.9 | 7.1 | 11.0 | 4.8 | |||||||||||||
Amortization of deferred financing costs | 0.8 | 1.5 | 0.5 | 0.9 | 0.1 | 0.2 | |||||||||||||
Interest portion of rental expense | 0.6 | 1.3 | 1.1 | 0.9 | 0.9 | 0.8 | |||||||||||||
Fixed Charges | $ | 8.2 | $ | 13.4 | $ | 5.5 | $ | 8.9 | $ | 12.0 | $ | 5.8 | |||||||
Ratio of Earnings to Fixed Charges | 0.71 | (B) | (B) | 8.02 | 10.78 | 40.72 | |||||||||||||
(A) Amount includes interest expense on debt and capitalized interest during the period.
(B) For the year ended December 31, 2016, there was a deficiency of earnings to cover the fixed charges of $114.2 million. For the year ended December 31, 2015, there was a deficiency of earnings to cover the fixed charges of $60.0 million. Accordingly, the ratios for these periods have not been presented.