EX-12.1 6 kop-ex121_23.htm EX-12.1 kop-ex121_23.htm

Exhibit 12.1

KOPPERS HOLDINGS INC.

RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions, except ratios)

 

  

 

2010

 

 

2011

 

 

2012

 

 

2013

 

 

2014

 

 

Twelve Months Ended

December 31, 2015

 

Earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) from continuing operations

   before taxes

 

$

73.8

 

 

$

52.5

 

 

$

100.6

 

 

$

77.0

 

 

$

(5.9

)

 

$

(80.1

)

Deduct: Equity earnings net of dividends

 

0.0

 

 

 

0.2

 

 

 

0.8

 

 

 

0.8

 

 

 

(1.6

)

 

 

(3.1

)

Deduct: Pre-tax income of noncontrolling

   interests

 

 

0.5

 

 

 

0.9

 

 

 

2.0

 

 

0.0

 

 

0.0

 

 

0.0

 

Add: Fixed charges

 

 

40.3

 

 

 

40.8

 

 

 

41.6

 

 

 

39.4

 

 

 

51.8

 

 

 

64.6

 

Earnings as defined

 

$

113.6

 

 

$

92.2

 

 

$

139.4

 

 

$

115.6

 

 

$

47.5

 

 

$

(12.4

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expensed

 

$

27.1

 

 

$

27.2

 

 

$

27.9

 

 

$

26.8

 

 

$

39.1

 

 

$

50.7

 

Other

 

0.0

 

 

0.0

 

 

0.0

 

 

 

0.4

 

 

1.3

 

 

 

0.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Rents

 

 

42.5

 

 

 

43.8

 

 

 

44.3

 

 

 

39.4

 

 

 

36.7

 

 

 

44.7

 

Interest factor

 

 

31

%

 

 

31

%

 

 

31

%

 

 

31

%

 

 

31

%

 

 

31

%

Estimated interest component of rent

 

 

13.2

 

 

 

13.6

 

 

 

13.7

 

 

 

12.2

 

 

 

11.4

 

 

$

13.9

 

Total fixed charges

 

$

40.3

 

 

$

40.8

 

 

$

41.6

 

 

$

39.4

 

 

$

51.8

 

 

$

64.6

 

Ratio of earnings to fixed charges(1)

 

 

2.82

 

 

 

2.26

 

 

 

3.35

 

 

 

2.93

 

 

 

0.92

 

 

 

(0.19

)

 

(1)

In 2015, earnings did not cover fixed charges by $77.0 million.