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EXHIBIT 12.1
Spirit AeroSystems Holdings, Inc.
Computation of Ratio of Earnings to Fixed Charges
($ in millions, except ratios)
Spirit Holdings | |||||||||||||||||||
Twelve Months Ended | |||||||||||||||||||
December 31, 2017 | December 31, 2016 | December 31, 2015 | December 31, 2014 | December 31, 2013 | |||||||||||||||
Earnings: | |||||||||||||||||||
Income (loss) before income taxes and equity in net income (loss) of affiliates | $ | 534.6 | $ | 660.5 | $ | 808.2 | $ | 262.4 | $ | (430.8 | ) | ||||||||
Add: Fixed charges (from below) | 52.3 | 69.2 | 64.6 | 99.0 | 81.9 | ||||||||||||||
Add: Amortization of capitalized interest | 5.1 | 4.8 | 4.2 | 4.1 | 3.8 | ||||||||||||||
Add: Distributed income of equity investee | 0.3 | 1.2 | 1.2 | 0.5 | 0.5 | ||||||||||||||
Subtract: Capitalized interest expense | 5.9 | 6.7 | 6.0 | 4.0 | 5.8 | ||||||||||||||
$ | 586.4 | $ | 729.0 | $ | 872.2 | $ | 362.0 | $ | (350.4 | ) | |||||||||
Fixed charges: | |||||||||||||||||||
Interest expense (including amortization of debt issuance costs, debt discounts and premiums) | $ | 41.7 | $ | 57.3 | $ | 52.7 | $ | 88.1 | $ | 70.1 | |||||||||
Add: Capitalized interest expense | 5.9 | 6.7 | 6.0 | 4.0 | 5.8 | ||||||||||||||
Add: Portion of rentals representing interest (1/3 of Operating Lease Payments) | 4.7 | 5.1 | 5.9 | 6.9 | 6.0 | ||||||||||||||
$ | 52.3 | $ | 69.1 | $ | 64.6 | $ | 99.0 | $ | 81.9 | ||||||||||
Ratio of earnings to fixed charges | 11.2 | 10.5 | 13.5 | 3.7 | (4.3 | ) | |||||||||||||