EX-12.1 3 usg_ex121x08052016xs-3asr.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Exhibit 12.1
USG Corporation
Ratio of Earnings to Fixed Charges
 
 
June 30,
 
Year end December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings:
 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations before taxes
 
209

 
262

 
46

 
59

 
(170
)
 
(410
)
Less: Income (loss) from equity method investments
 
23

 
50

 
35

 
1

 
—

 
1

Income (loss) from continuing operations before income taxes and equity method investment earnings
 
186

 
212

 
11

 
58

 
(170
)
 
(411
)
Add: Distributed income of equity investee
 
18

 
38

 
—

 
—

 
—

 
—

Add: Fixed charges
 
93

 
191

 
207

 
230

 
230

 
237

Less: Interest capitalized
 
(1
)
 
(3
)
 
(3
)
 
(3
)
 
—

 
—

Total Earnings (Loss)
 
296

 
438

 
215

 
285

 
60

 
(174
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest expense
 
76

 
159

 
173

 
195

 
197

 
201

Amortized premiums, discounts, and capitalized related to indebtedness
 
2

 
4

 
6

 
8

 
9

 
10

Interest capitalized
 
1

 
3

 
3

 
3

 
—

 
—

Interest portion of rent expense
 
14

 
25

 
25

 
24

 
24

 
26

Total Fixed Charges
 
93

 
191

 
207

 
230

 
230

 
237

 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
3.2

 
2.3

 
1.0

 
1.2

 
- (a)

 
- (a)

(a) As a result of the net losses in these years, the amount of the coverage deficiencies for the years ended December 31, 2012 and 2011 was $170 million and $411 million, respectively.