EX-12.1 6 d442548dex121.htm EX-12.1 EX-12.1

Exhibit 12.1

Enel Chile S.A.    

STATEMENT OF RATIOS OF EARNINGS TO FIXED CHARGES    

(in thousands of Chilean pesos, except ratio)    

 

     Six Months
ended June 30,		      Fiscal Year ended December 31,  
     2017      2016     2015     2014  

Earnings Available for Fixed Charges (A):

          

Pre-tax income from continuing operations

    $ 302,663        618,696       401,125       281,964  

Less:

          

Equity in earnings of affiliates, net of dividends

      778        (7,878 )      (8,905 )      54,353  
  

 

 

     

 

 

    

 

 

    

 

 

  
     303,441        610,818       392,220       336,317  

Add: fixed charges included in earnings:

          

Interest expense

      82,124        179,804       210,003       159,840  

Interest element of rentals

          
  

 

 

     

 

 

    

 

 

    

 

 

  

Total

      82,124        179,804       210,003       159,840  
  

 

 

     

 

 

    

 

 

    

 

 

  

Total earnings available for fixed charges:

    $ 385,565        790,622       602,222       496,157  
  

 

 

     

 

 

    

 

 

    

 

 

  

Fixed Charges (B):

          

Fixed charges included in earnings

    $ 82,124        179,804       210,003       159,840  

Capitalized interest

      9,041        20,980       11,853       1,817  
  

 

 

     

 

 

    

 

 

    

 

 

  

Total fixed charges

    $ 91,165        200,784       221,855       161,657  
  

 

 

     

 

 

    

 

 

    

 

 

  

Ratio of Earnings to Fixed Charges

      4.23        3.94       2.71       3.07  

 

(A) “Earnings” are defined as pre-tax income from continuing operations adjusted for undistributed earnings of less than majority owned subsidiares and fixed charges excluding capitalized interest.    
(B) “Fixed Charges” are defiend as interest on borrowings (whether expensed or capitalized), the portion of rental expense applicable to interest, and amortization of debt issuance costs.