EX-12.1 6 exhibit1211231201710-k.htm EXHIBIT 12.1 Exhibit


Exhibit 12.1
ALBEMARLE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands, Except for Ratios)
 
 
Year Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
Pre-tax income from continuing operations before adjustment for net income attributable to noncontrolling interests or equity in net income or losses of unconsolidated investments
$
446,798

 
$
515,264

 
$
310,744

 
$
213,179

 
$
538,442

Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense (before capitalized interest and loss on extinguishment of debt)
69,953

 
70,096

 
87,484

 
43,774

 
37,701

Portion (1/3) of rents representing interest factor
10,405

 
10,462

 
11,607

 
10,641

 
10,241

Total fixed charges
80,358

 
80,558

 
99,091

 
54,415

 
47,942

Amortization of capitalized interest
3,814

 
2,485

 
2,551

 
2,163

 
1,987

Distributed income of unconsolidated investments
39,386

 
43,759

 
59,912

 
40,688

 
21,632

Interest capitalized
(7,404
)
 
(6,836
)
 
(11,187
)
 
(2,416
)
 
(6,142
)
Net income attributable to noncontrolling interests (net of tax)
(44,618
)
 
(37,094
)
 
(25,158
)
 
(27,590
)
 
(26,663
)
Pre-tax income from continuing operations before adjustment for net income attributable to noncontrolling interests or equity in net income or losses of unconsolidated investments plus fixed charges, amortization of capitalized interest, less interest capitalized and net income attributable to noncontrolling interests that have not incurred fixed charges
$
518,334

 
$
598,136

 
$
435,953

 
$
280,439

 
$
577,198

Ratio of earnings to fixed charges
6.5

 
7.4

 
4.4

 
5.2

 
12.0