Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - Koppers Holdings Inc. | kop-10q_20170930.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_10.htm |
| EX-31.1 - EX-31.1 - Koppers Holdings Inc. | kop-ex311_6.htm |
Exhibit 12.1
KOPPERS HOLDINGS INC.
RATIO OF EARNINGS (LOSS) TO FIXED CHARGES
(Dollars in millions, except ratios)
|
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|
2012 |
|
|
2013 |
|
|
2014 |
|
|
2015 |
|
|
2016 |
|
|
Nine Months Ended September 30, 2017 |
|
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|
Earnings (loss): |
|
|
|
|
|
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|
|
|
|
|
|
|
|
|
|
|
|
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Income (loss) from continuing operations before taxes |
|
$ |
100.6 |
|
|
$ |
77.0 |
|
|
$ |
(5.9 |
) |
|
$ |
(80.1 |
) |
|
$ |
38.5 |
|
|
$ |
58.0 |
|
|
Deduct: Equity earnings net of dividends |
|
|
0.8 |
|
|
|
0.8 |
|
|
|
(1.6 |
) |
|
|
(3.1 |
) |
|
|
(1.0 |
) |
|
|
0.0 |
|
|
Deduct: Pre-tax income of noncontrolling interests |
|
|
2.0 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
0.4 |
|
|
Add: Fixed charges |
|
|
41.6 |
|
|
|
39.4 |
|
|
|
51.8 |
|
|
|
64.6 |
|
|
|
66.4 |
|
|
|
43.3 |
|
|
Earnings (loss) as defined |
|
$ |
139.4 |
|
|
$ |
115.6 |
|
|
$ |
47.5 |
|
|
$ |
(12.4 |
) |
|
$ |
105.9 |
|
|
$ |
100.9 |
|
|
Fixed charges: |
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|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
|
|
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Interest expensed |
|
$ |
27.9 |
|
|
$ |
26.8 |
|
|
$ |
39.1 |
|
|
$ |
50.7 |
|
|
$ |
50.8 |
|
|
$ |
31.9 |
|
|
Other |
|
0.0 |
|
|
0.4 |
|
|
1.3 |
|
|
0.0 |
|
|
0.0 |
|
|
0.0 |
|
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|
Rents |
|
|
44.3 |
|
|
|
39.4 |
|
|
|
36.7 |
|
|
|
44.7 |
|
|
|
50.3 |
|
|
|
36.8 |
|
|
Interest factor |
|
|
31 |
% |
|
|
31 |
% |
|
|
31 |
% |
|
|
31 |
% |
|
|
31 |
% |
|
|
31 |
% |
|
Estimated interest component of rent |
|
|
13.7 |
|
|
|
12.2 |
|
|
|
11.4 |
|
|
|
13.9 |
|
|
|
15.6 |
|
|
|
11.4 |
|
|
Total fixed charges |
|
$ |
41.6 |
|
|
$ |
39.4 |
|
|
$ |
51.8 |
|
|
$ |
64.6 |
|
|
$ |
66.4 |
|
|
$ |
43.3 |
|
|
Ratio of earnings (loss) to fixed charges(1) |
|
|
3.35 |
|
|
|
2.93 |
|
|
|
0.92 |
|
|
|
(0.19 |
) |
|
|
1.59 |
|
|
|
2.33 |
|
|
(1) |
In 2014 and 2015, earnings did not cover fixed charges by $4.3 million and $77.0 million, respectively. |