Attached files
file | filename |
---|---|
10-K - 10-K - LSC Communications, Inc. | lksd-10k_20171231.htm |
EX-32.2 - EX-32.2 - LSC Communications, Inc. | lksd-ex322_13.htm |
EX-32.1 - EX-32.1 - LSC Communications, Inc. | lksd-ex321_15.htm |
EX-31.2 - EX-31.2 - LSC Communications, Inc. | lksd-ex312_7.htm |
EX-31.1 - EX-31.1 - LSC Communications, Inc. | lksd-ex311_25.htm |
EX-24.1 - EX-24.1 - LSC Communications, Inc. | lksd-ex241_21.htm |
EX-23.1 - EX-23.1 - LSC Communications, Inc. | lksd-ex231_9.htm |
EX-21.1 - EX-21.1 - LSC Communications, Inc. | lksd-ex211_31.htm |
EX-10.25 - EX-10.25 - LSC Communications, Inc. | lksd-ex1025_964.htm |
EX-10.20 - EX-10.20 - LSC Communications, Inc. | lksd-ex1020_963.htm |
Exhibit 12.1
LSC COMMUNICATIONS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
|
Years ended December 31, |
|
|||||||||||||||||
|
2017 |
|
|
2016 |
|
|
2015 |
|
|
2014 |
|
|
2013 |
|
|||||
Earnings available for fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss) earnings from continuing operations before income taxes |
$ |
(44 |
) |
|
$ |
157 |
|
|
$ |
138 |
|
|
$ |
88 |
|
|
$ |
137 |
|
Add: Fixed charges before capitalized interest |
|
87 |
|
|
|
31 |
|
|
|
9 |
|
|
|
8 |
|
|
|
7 |
|
Add: Amortization of capitalized interest |
|
1 |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total earnings available for fixed charges |
$ |
44 |
|
|
$ |
189 |
|
|
$ |
147 |
|
|
$ |
96 |
|
|
$ |
144 |
|
Fixed charges: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
$ |
72 |
|
|
$ |
18 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Interest portion of rental expense |
|
15 |
|
|
|
13 |
|
|
|
10 |
|
|
|
9 |
|
|
|
8 |
|
Total fixed charges before capitalized interest |
|
87 |
|
|
|
31 |
|
|
|
10 |
|
|
|
9 |
|
|
|
8 |
|
Capitalized interest |
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total fixed charges |
$ |
88 |
|
|
$ |
31 |
|
|
$ |
10 |
|
|
$ |
9 |
|
|
$ |
8 |
|
Ratio of earnings to fixed charges |
|
0.50 |
|
|
|
6.10 |
|
|
|
14.70 |
|
|
|
10.67 |
|
|
|
18.00 |
|
In 2017, earnings (loss) were inadequate to cover fixed charges by $44 million due to certain charges in the year.