Attached files
| file | filename |
|---|---|
| 10-K - 10-K - TimkenSteel Corp | tmst10-k12312017.htm |
| EX-32.1 - EXHIBIT 32.1 - TimkenSteel Corp | tmstexhibit32112312017.htm |
| EX-31.2 - EXHIBIT 31.2 - TimkenSteel Corp | tmstexhibit31212312017.htm |
| EX-31.1 - EXHIBIT 31.1 - TimkenSteel Corp | tmstexhibit31112312017.htm |
| EX-24.1 - EXHIBIT 24.1 - TimkenSteel Corp | tmstexhibit24112312017.htm |
| EX-23.1 - EXHIBIT 23.1 - TimkenSteel Corp | tmstexhibit23112312017.htm |
| EX-21.1 - EXHIBIT 21.1 - TimkenSteel Corp | tmstexhibit21112312017.htm |
Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions, except ratio amounts)
Year Ended December 31, | ||||||||||||||||
2017 | 2016 Adjusted | 2015 Adjusted | 2014 | 2013 | ||||||||||||
(Loss) income before income taxes | $ | (42.3 | ) | $ | (142.0 | ) | $ | (71.7 | ) | $ | 68.7 | $ | 127.6 | |||
Plus: | ||||||||||||||||
Fixed charges | 16.1 | 13.4 | 5.5 | 8.9 | 12.0 | |||||||||||
Amortization of capitalized interest | 1.8 | 1.9 | 1.7 | 0.7 | 0.6 | |||||||||||
Less: | ||||||||||||||||
Interest capitalized | 0.6 | 0.7 | 1.0 | 6.9 | 10.8 | |||||||||||
Earnings (loss) | (25.0 | ) | (127.4 | ) | (65.5 | ) | 71.4 | 129.4 | ||||||||
Interest (A) | 13.8 | 10.6 | 3.9 | 7.1 | 11.0 | |||||||||||
Amortization of deferred financing costs | 1.6 | 1.5 | 0.5 | 0.9 | 0.1 | |||||||||||
Interest portion of rental expense | 0.7 | 1.3 | 1.1 | 0.9 | 0.9 | |||||||||||
Fixed Charges | $ | 16.1 | $ | 13.4 | $ | 5.5 | $ | 8.9 | $ | 12.0 | ||||||
Ratio of Earnings to Fixed Charges | (B) | (B) | (B) | 8.02 | 10.78 | |||||||||||
(A) Amount includes interest expense on debt and capitalized interest during the period.
(B) For the year ended December 31, 2017, there was a deficiency of earnings to cover the fixed charges of $8.9 million. For the year ended December 31, 2016, there was a deficiency of earnings to cover the fixed charges of $114.0 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.