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10-Q
KOPPERS HOLDINGS INC. filed this Form 10-Q on 08/03/2017
Entire Document
 
kop-ex121_7.htm

Exhibit 12.1

KOPPERS HOLDINGS INC.

RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions, except ratios)

 

 

2012

 

 

2013

 

 

2014

 

 

2015

 

 

2016

 

 

Six Months Ended

June 30, 2017

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

   before taxes

 

$

100.6

 

 

$

77.0

 

 

$

(5.9

)

 

$

(80.1

)

 

$

38.5

 

 

$

33.2

 

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

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

0.3

 

Add: Fixed charges

 

 

41.6

 

 

 

39.4

 

 

 

51.8

 

 

 

64.6

 

 

 

66.4

 

 

 

28.9

 

Earnings as defined

 

$

139.4

 

 

$

115.6

 

 

$

47.5

 

 

$

(12.4

)

 

$

105.9

 

 

$

61.8

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed

 

$

27.9

 

 

$

26.8

 

 

$

39.1

 

 

$

50.7

 

 

$

50.8

 

 

$

21.4

 

Other

 

0.0

 

 

0.4

 

 

1.3

 

 

0.0

 

 

0.0

 

 

0.0

 

Rents

 

 

44.3

 

 

 

39.4

 

 

 

36.7

 

 

 

44.7

 

 

 

50.3

 

 

 

24.3

 

Interest factor

 

 

31

%

 

 

31

%

 

 

31

%

 

 

31

%

 

 

31

%

 

 

31

%

Estimated interest component of rent

 

 

13.7

 

 

 

12.2

 

 

 

11.4

 

 

 

13.9

 

 

 

15.6

 

 

 

7.5

 

Total fixed charges

 

$

41.6

 

 

$

39.4

 

 

$

51.8

 

 

$

64.6

 

 

$

66.4

 

 

$

28.9

 

Ratio of earnings to fixed charges(1)

 

 

3.35

 

 

 

2.93

 

 

 

0.92

 

 

 

(0.19

)

 

 

1.59

 

 

 

2.14

 

 

(1)

In 2014 and 2015, earnings did not cover fixed charges by $4.3 million and $77.0 million, respectively.