ITRON, INC. - FORM 10-Q - EX-12.1 - EXHIBIT 12.1 - August 6, 2018

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EX-32.1 - EXHIBIT 32.1 - ITRON, INC.itriex-32106302018.htm
EX-31.2 - EXHIBIT 31.2 - ITRON, INC.itriex-31206302018.htm
EX-31.1 - EXHIBIT 31.1 - ITRON, INC.itriex-31106302018.htm
10-Q - 10-Q - ITRON, INC.itri10q06302018.htm
Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (1)
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended
June 30, 2018
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
 
2014
 
2013
 
(in thousands, except ratios)
Earnings
 
 
 
 
 
 
 
 
 
 
 
Pre-tax income (loss)
$
(148,904
)
 
$
134,575

 
$
84,627

 
$
37,102

 
$
(18,265
)
 
$
(153,400
)
Add: dividends received from equity investees
—

 
719

 
335

 
444

 
681

 
707

Less: noncontrolling interest income
(1,512
)
 
(2,951
)
 
(3,283
)
 
(2,325
)
 
(1,370
)
 
(2,219
)
Less: income (loss) from equity investees
390

 
(542
)
 
(393
)
 
(807
)
 
(270
)
 
(954
)
 
(150,026
)
 
131,801

 
81,286

 
34,414

 
(19,224
)
 
(155,866
)
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges:(2)
 
 
 
 
 
 
 
 
 
 
 
Interest expense, gross(3)
30,149

 
13,845

 
13,521

 
14,669

 
15,078

 
14,041

Interest portion of rent expense
4,476

 
5,096

 
4,958

 
5,405

 
6,832

 
6,651

 
 
 
 
 
 
 
 
 
 
 
 
a) Fixed charges
34,625

 
18,941

 
18,479

 
20,074

 
21,910

 
20,692

 
 
 
 
 
 
 
 
 
 
 
 
b) Earnings for ratio(4)
$
(115,401
)
 
$
150,742

 
$
99,765

 
$
54,488

 
$
2,686

 
$
(135,174
)
 
 
 
 
 
 
 
 
 
 
 
 
Ratios:
 
 
 
 
 
 
 
 
 
 
 
Earnings to fixed charges (b/a)(5)
N/A

 
8.0

 
5.4

 
2.7

 
0.1

 
N/A

 
 
 
 
 
 
 
 
 
 
 
 
Deficit of earnings to fixed charges
$
(115,401
)
 
N/A

 
N/A

 
N/A

 
N/A

 
$
(135,174
)

(1) 
We had no preferred stock outstanding for any period presented and accordingly our ratio of earnings to combined fixed charges and preferred stock dividends is the same as our ratio of earnings to fixed charges for all periods presented.

(2) 
Fixed charges consist of interest on indebtedness and amortization of debt issuance costs plus that portion of lease rental expense representative of the interest factor.

(3) 
Interest expense, gross, includes amortization of prepaid debt fees.

(4) 
Earnings for ratio consists of income (loss) from continuing operations before income taxes, plus dividends received from equity method investments, less income from equity investees, less income attributable to noncontrolling interests, plus fixed charges.

(5) 
Earnings to fixed charges ratio is not calculated for years with a Deficit of earnings to fixed charges amount as the ratio is less than 1:1.




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