EX-12 4 d376491dex12.htm EX-12 EX-12

Exhibit 12

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(DOLLARS IN MILLIONS)

 

         Three Months Ended    
     March 31, 2017

Earnings

  

Loss from continuing operations before provision for income taxes

    $ (176

Income from equity investees

     (3

Distributed income from equity investees

     2  

Interest and amortization of deferred finance costs

     229  

Amortization of capitalized interest

     5  

Implicit rental interest expense

     27  
  

 

 

 

  Total Earnings

    $ 84  
  

 

 

 

Fixed Charges

  

Interest and amortization of deferred finance costs

    $ 229  

Capitalized interest

     3  

Implicit rental interest expense

     27  
  

 

 

 

  Total Fixed Charges

    $                         259  
  

 

 

 

   Ratio of Earnings to Fixed Charges

     *  
  

 

 

 

 

* For the three months ended March 31, 2017, earnings were insufficient to cover fixed charges
  by approximately $175 million.